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MORTGAGEE

TheLaw.com Law Dictionary & Black's Law Dictionary 2nd Ed.

He that takes or receives a mortgage. Mortgagee in possession. A mortgagee of real property who is in possession of it with the agreement or assent of the mortgagor, express or implied, and in recognition of his mortgage and because of it, and under such circumstances as to make the satisfaction of his lien an equitable prerequisite to his being dispossessed.

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