Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

Mortgagee

Read a random definition: Jim Crow law

A quick definition of Mortgagee:

Term: Mortgagee

Definition: The mortgagee is the person or organization that gives money to someone who wants to buy a house. The person who receives the money is called the mortgagor. The mortgagee has the right to take the house if the mortgagor does not pay back the money they borrowed.

A more thorough explanation:

Definition: The mortgagee is the party that lends money to the borrower (also known as the mortgagor) in a mortgage transaction.

For example, if you want to buy a house but don't have enough money to pay for it all at once, you might go to a bank or other lender to get a mortgage. The bank would be the mortgagee in this transaction, and you would be the mortgagor. The bank would lend you the money to buy the house, and you would agree to pay it back over time, with interest.

Another example would be if a business wanted to buy a new piece of equipment but didn't have the cash to do so. They might get a mortgage from a lender, with the equipment serving as collateral. The lender would be the mortgagee, and the business would be the mortgagor.

These examples illustrate the definition of mortgagee by showing that it is the party that provides the funds in a mortgage transaction.

mortgage-backed security | Mortgagor

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
HopefullyInLawSchool
13:34
?
13:35
@HopefullyInLawSchool: Yea, I just got it
i just want a cornell ii :(
13:37
yak you will be fucking shit up at cornell this time next year dw
i love u
13:38
love you too bby
glovediedthisishismom
13:42
what if desantis appoints lara trump and matt gaetz to be floridas senators
Dkk
13:42
Sounds good to me
HopefullyInLawSchool
13:43
@glovediedthisishismom: What if he appoint Ym instead?
HELP
every damn opportunity
13:47
do schools straight reject people from ed or to they always ed-rd if its a no for ED?
HopefullyInLawSchool
13:48
Some schools rject
13:49
Thanks! I couldn't find any reddit thread about it lol
13:49
but just means now I have to wait for the rejection from Davis
glovediedthisishismom
13:53
i just wanna rock
glovediedthisishismom
13:53
bodyadaya
13:53
let it rock
14:17
How are the vibes heading into thanksgiving yall?
HopefullyInLawSchool
14:17
@Law-Guy Im feeling kinda happy I applied YM to UCI hoping it helps (:
Wanna give some head
soap
14:18
Cornell
14:19
@HopefullyinLawSchool What's YM?
14:19
oh no
HopefullyInLawSchool
14:19
you mom
WorthlessAttractiveZombie
14:19
Ouch
HopefullyInLawSchool
14:19
your*
14:19
I fear I realized too late
babycat
14:20
another victim claimed
LSD+ is ad-free, with DMs, discounts, case briefs & more.