Unit 2: ORS & EES Table Flashcards
1
Q
What is the OR and EE rule in real estate?
A
OR = giver EE = receiver
Being the -EE makes me hapEE
2
Q
What OR and EE terms do we see on a deed?
A
Grantor
Grantee
3
Q
What OR and EE terms do we see on a lease?
A
Lessor
Lessee
4
Q
What OR and EE terms do we see on a mortgage?
A
Mortgagor
Mortgagee
5
Q
In a mortgage, the mortgagor is who?
A
The mortgagor is the borrower. The property owner is GIVING the bank a promise.
6
Q
In a mortgage, the mortgagee is who?
A
The mortgagee is the lender or bank. The bank is RECEIVING a promise from the property owner.
