Etymology
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mortgagor (n.)

"one who grants a property as security for debt," 1580s, agent noun in Latin form from mortgage (v.). Native form mortgager is attested from 1630s. Barbarous mortgageor seems to be limited to legal writing.

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Definitions of mortgagor

mortgagor (n.)
the person who gives a mortgage in return for money to be repaid;
we became mortgagors when the bank accepted our mortgage and loaned us the money to buy our new home
Synonyms: mortgager
From wordnet.princeton.edu