Definition: mortgagee

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Source: WordNet (r) 1.7 

mortgagee
     n : the person who accepts a mortgage; "the bank became our
         mortgagee when it accepted our mortgage on our new home"
         [syn: mortgage holder]

Source: Webster's Revised Unabridged Dictionary (1913) 

Mortgagee \Mort`ga*gee"\, n. (Law)
   The person to whom property is mortgaged, or to whom a
   mortgage is made or given.