Asked by
Tikaram Sapkota
on Nov 28, 2024
Verified
An individual who borrows funds from a financial institution to purchase real property by taking out a mortgage is a mortgagee .
Mortgagee
The lender or financial institution that provides a loan secured by real property.
Financial Institution
An organization that provides financial services to its clients or members, including banks, credit unions, insurance companies, and investment firms.
- Acquire knowledge of the concepts and legal mandates governing mortgages, with a specific focus on the requirement for written agreements.
Verified Answer
CO
Learning Objectives
- Acquire knowledge of the concepts and legal mandates governing mortgages, with a specific focus on the requirement for written agreements.