mortgagor

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mortgagor

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

mortgagor

see MORTGAGE.

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.

References in periodicals archive ?
A mortgagee of real property faced with a default is granted the power under the Civil Code to demand the immediate sale of the mortgaged property "without having to obtain a judgment" and such enforcement cannot be delayed "even where the mortgager or a third party had filed an objection in the court.
Another Manoukian partnership also under sale and also being challenged by mortgager.
The ACORN Loan Counseling Program provides credit, budget, mortgager pre-purchase and post-purchase counseling to member families.
He has also proposed mortgagers register abandoned property on an Abandoned Property Register that his office would maintain.
The RTA, in cooperation with vehicle mortgagers, has always been enhancing its online service to improve convenience to clients who have paid their vehicle mortgages, while reducing a mortgage provider's business costs," said Bahrozyan.
Dubai's Road Transport Authority (RTA), in cooperation with vehicle mortgagers, has enhanced its online service to improve convenience to those clients who have paid their vehicle mortgages, while reducing mortgage provider business costs.
Known bondholders, mortgagers, and other security holders owning or holding 1 percent or more of total amount of bonds, mortgages or other securities (if there are none, so state): None.
With this collapse in housing values, about a quarter of the mortgagers went "under-water"