In a mortgage agreement, who is referred to as the borrower?

In a mortgage agreement, the borrower is referred to as the mortgagor. This term specifically identifies the individual or entity that takes out a loan against a property, using that property as collateral. The mortgagor is responsible for repaying the loan according to the terms set forth in the mortgage agreement.

This definition is crucial for understanding the roles within a mortgage transaction. The mortgagee, on the other hand, is the lender in the agreement, typically a bank or financial institution that provides the funds to the mortgagor. The investor generally refers to someone who invests in real estate or securities rather than borrowing against a property directly. Lastly, while the property owner could also be the mortgagor, it’s important to remember that not all property owners have a mortgage; therefore, the term 'mortgagor' accurately captures the specific role of the borrower in the context of the mortgage itself.