What term describes the person who grants a mortgage?

The term that describes the person who grants a mortgage is "mortgagor." This individual is the borrower in the transaction who pledges their property as security for a loan, typically used to purchase real estate. The mortgagor retains ownership of the property while granting the lender (or mortgagee) a security interest in the property until the mortgage debt is paid off.

Understanding this distinction is crucial, as it clarifies the roles and responsibilities of parties involved in a mortgage agreement. The mortgagor is thus fundamentally responsible for repaying the loan according to the agreed-upon terms, while the mortgagee is the lender who provides the funds.