mortgagor
pronunciation
How to pronounce mortgagor in British English:
UK [ˈmɔ:gɪdʒɔ:(r)]
How to pronounce mortgagor in American English:
US [ˈmɔrgɪdʒɔ(r)]
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- Noun:
- the person who gives a mortgage in return for money to be repaid
Word Origin
- mortgagor (n.)
- 1580s, agent noun in Latin form from mortgage (v.). Native form mortgager attested from 1630s.
Example
- 1. The registration fee shall be paid by the mortgagor .
- 2. Article 38 a mortgagor and a mortgagee shall conclude a mortgage contract in writing .
- 3. If the mortgagor fails to fulfil liabilities within the prescribed period of time or declares dissolution or bankruptcy within the term of the mortgage contract , the mortgagee shall have the right to dispose of the mortgaged property in accordance with the laws and regulations of the state and the stipulations of the mortgage contract .
- 4. The mortgagor retains legal title to the land .
- 5. There being no inheritor or beneficiary upon the death of the mortgagor .