Most people take out a mortgage to finance the purchase of a residence or piece of real estate. In order to limit its risk in the investment, the lender in the transaction creates a priority legal interest in the value of the property, substantially lowering the probability the lender will not be repaid in full if the borrower defaults on the loan.
Investment dictionary. Academic. 2012.
Look at other dictionaries:
mortgagee — mort·gag·ee /ˌmȯr gi jē/ n: a party (as a business or individual) to whom or in whose favor property is mortgaged Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. mortgagee … Law dictionary
Mortgagee — Mort ga*gee , n. (Law) The person to whom property is mortgaged, or to whom a mortgage is made or given. [1913 Webster] … The Collaborative International Dictionary of English
mortgagee — (n.) 1580s, from MORTGAGE (Cf. mortgage) (v.) + EE (Cf. ee) … Etymology dictionary
mortgagee — ► NOUN ▪ the lender in a mortgage … English terms dictionary
mortgagee — [môr΄gə jē′] n. a person to whom property is mortgaged … English World dictionary
mortgagee — the organisation or person to whom the property is mortgaged. In the case of a bank loan, the organisation is usually the bank. Glossary of Business Terms A secured party to whom insurance proceeds are paid as stipulated in a mortgagee payee… … Financial and business terms
Mortgagee — The lender of a loan secured by property. The New York Times Financial Glossary * * * mortgagee mort‧ga‧gee [ˌmɔːgɪˈdʒiː ǁ ˌmɔːr ] noun [countable] LAW FINANCE a financial institution that lends money in the form of a mortgage * * * mortgagee UK… … Financial and business terms
mortgagee — See mortgager, mortgagee … Dictionary of problem words and expressions
mortgagee — The person to whom a mortgage is made. A mortgagee is held to be a purchaser within the meaning of a statute entitling the widow of a nonresident alien to the same rights in her husband s property as a resident, except as against a purchaser from … Ballentine's law dictionary
mortgagee — noun Date: 1584 a person to whom property is mortgaged … New Collegiate Dictionary
mortgagee — /mawr geuh jee /, n. a person to whom property is mortgaged. [1575 85; MORTGAGE + EE] * * * … Universalium