MORTGAGEE

mortgagee (mor-g<<schwa>>-jee). One to whom property is mortgaged; the mortgage creditor, or lender. — Also termed mortgage-holder. [Cases: Mortgages 23. C.J.S. Mortgages §§

73–75, 77.]

mortgagee in possession.A mortgagee who takes control of mortgaged land by agreement

with the mortgagor, usu. upon default of the loan secured by the mortgage. [Cases: Mortgages 187. C.J.S. Mortgages §§ 57, 288.]

[Blacks Law 8th]