Words / M / Law

mortgagor

/ˌmɔːɡəˈdʒɔː/

C1CEFR level
75/100Rarity: rare
TechnicalRegister

Law noun

The borrower who charges an interest in land as security for a loan.

On default the mortgagor lost the equity of redemption when the lender exercised its power of sale.

Similar: borrower

Topic: Conveyancing & land in Legal English

Business noun

The borrower who grants a mortgage over their property to a lender.

As mortgagor, she remained liable for the shortfall even after the house was repossessed.

Topic: Real estate & property in Business English

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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More law words: Conveyancing & land