mortgagee
B2CEFR level
65/100Rarity: rare
TechnicalRegister
Law noun
The lender in whose favour land is charged as security for a debt.
As mortgagee in possession, the bank owed a duty to obtain the best price reasonably attainable on sale.
Business noun
The lender who holds a mortgage as security over a borrower's property.
On default, the mortgagee exercised its power of sale to recover the outstanding loan.
Rarity runs from 0 (a word everyone knows) to 100 (almost never seen outside specialist or literary writing). Level is the word's real difficulty on the CEFR scale, from A1 to C2.
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