In a mortgage transaction, the buyer/borrower is the' mortgagor'. The mortgagor is required to sign a promissory note for the amount borrowed and to execute a mortgage to secure the debt. The mortgage note creates a personal liability for payment on the part of the mortgagor. (See mortgage, promissory note).
Barry Goldsmith
| APA | Barry Goldsmith. (2010). mortgagor. Retrieved September 28, 2026, from http://smartdefine.org/mortgagor/definitions/1158551 |
| Chicago | Barry Goldsmith. 2010. "mortgagor" http://smartdefine.org/mortgagor/definitions/1158551 (accessed September 28, 2026). |
| Harvard | Barry Goldsmith 2010, mortgagor, Smart Define, viewed 28 September, 2026, <http://smartdefine.org/mortgagor/definitions/1158551>. |
| MLA | Barry Goldsmith. "mortgagor" 21 October 2010. Web. 28 September 2026. <http://smartdefine.org/mortgagor/definitions/1158551> |