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Mortgagor

   Also found in: Dictionary/thesaurus, Medical, Financial, Encyclopedia, Wikipedia, Hutchinson 0.01 sec.

mortgagor n. the person who has borrowed money and pledged his/her real property as security for the (mortgagee). (See: mortgage, mortgagee)

MORTGAGOR, estate's, contracts. He who makes a mortgage.
     2. He has rights, and is liable to certain duties as such. 1. He is quasi tenant, at will; he is entitled to an equity of redemption after forfeiture. 2. He cannot commit waste, nor make a lease injurious to the mortgagee. As between the mortgagor and third persons, the mortgagor is owner of the land. Dougl. 632; 4 McCord, R. 310; 3 Fairf. R. 243; but see 3 Pick. R. 204; 1 N. H. Rep. 171; 2 N. H. Rep. 16; 10 Conn. R. 243; 1 Vern. 3; 2 Vern. 621; 1 Atk. 605. He can, however, do nothing which will defeat the rights of the mortgagee, as, to make a lease to bind him. Dougl. 21. Vide Mortgagee; 2 Jack. & Walk. 194.
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? References in periodicals archive
Mortgagor The borrower in a mortgage loan transaction.
Talking the talk in today's real estate industry by Polsinelli, Adelaide / Real Estate Weekly
A travel insurer expects to be hit with more than $1 million in claims from passengers whose trips were canceled or interrupted by a cruise line that recently had its ships seized by mortgagors.
Travel Insurer Expects $1 Million In Claims Caused by Ship Seizures by Best's Review
The mortgagor however, claimed that the mortgage loan was usurious and was therefore void.
Usury-avoidance provision in a mortgage is useless by Schiff, Edward L. / Real Estate Weekly
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