...or vs. ...ee

If real estate terms weren't confusing enough!  Some terms can completely throw you in a loop wondering if you are the Mortgagor or Mortgagee.  Here is a quick cheat sheet so when you start looking further into real estate you'll be familiar with the terms.  As a basic understanding you should know that the suffix "or" gives and "ee" receives. Try to remember that there are multiple "E's" in "Receive".  Here are a few common uses:

Mortgagor vs. Mortgagee

Mortgagee = Bank - receives a mortgage document...in return for money
Mortgagor = Buyer - gives the bank a mortgage document (in return for the money), usually the buyer.

Lessor vs. Lessee

Lessee = The Renter- The tenant that receives the lease document.
Lessor = Landlord- Owner that gives the tenant a lease.

Grantor vs. Grantee

Grantee = Buyer- Receives property by a deed
Grantor = Seller- Gives a deed to transfer property

All of these are likely to come up in a real estate transaction.  Try to remember what they mean so that you don't get confused when signing the mortgage, deed, or lease.

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