Mortgagee
/ˈmɔːr.ɡɪdʒ.iː/noun
A person to whom a mortgage is given; the lender in a mortgage agreement.
Did you know?The concept of a 'mortgage' stems from medieval law, where the property was pledged as security until the debt was paid, often leading to the owner's 'death' in financial ruin!
Etymological Timeline
Proto-Indo-European
PIE
*mr̥tós
“dead, mortal”
Latin
Latin
mortuus
“dead, deceased”
Old French
Old French
mortgage
“death pledge; a pledge that dies when the debt is paid or the property is taken”
14th Century
English
mortgage
“a legal agreement for a loan on property, literally a death pledge”
17th Century
English
mortgagee
“the one to whom a mortgage is granted, the lender of the death pledge”