Definition: A mortgagee is the party that receives and holds a mortgage as security for a debt, ordinarily the lender.
Example
Harbor Bank lends Maya money and receives a mortgage on her home. The bank is the mortgagee.
Keep the distinction clear
The mortgagee receives the security interest; the mortgagor gives it. Under Florida’s lien theory, holding the mortgage does not by itself make the lender the owner of the home.
Related terms
Keep studying
Mortgages: Borrower, Lender, Ownership, and Key Clauses
References: Florida Statutes §697.02 · CFPB guide to closing forms
Pronunciation (US): mor-gih-JEE (capitals show stress)
Pronunciation reference: Merriam-Webster
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