Mortgagor

Mortgagor - A Mortgagor is an individual or entity that borrows money to purchase property, securing the loan with the property itself as collateral. In this arrangement, the mortgagor holds ownership of the property but the lender (mortgagee) has the right to take possession if the loan is not repaid according to the agreed terms.

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Mortgagor
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Definition and Examples

Definition
A Mortgagor is an individual or entity that borrows money to purchase property, securing the loan with the property itself as collateral. In this arrangement, the mortgagor holds ownership of the property but the lender (mortgagee) has the right to take possession if the loan is not repaid according to the agreed terms.
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