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Tuesday, May 21, 2024, 6:42 PM
Site: Burk Baker School of Real Estate & Appraising
Course: DEMO (DE101)
Glossary: Real Estate Glossary
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MORTGAGE GUARANTEE MORTGAGEE CORPORATION

A private corporation specializing in buying and selling mortgages; "Maggie Mae".

MORTGAGEE

The party who lends money and accepts a mortgage to secure the payment of the debt.

MORTGAGOR

The party who borrows money and gives a mortgage on the property as security for his obligation to repay the debt.

MORTIS CAUSE - Civil Law Term

Donations mortis causa refer to donations of disposable property by a legal will in any form. Must not impinge upon the legitime of forced heirs.

MULTIPLE LISTING SERVICE (M.L.S.)

An arrangement among brokers whereby they share their listings.