Meaning of submortgagee | Babel Free
Definitions
One who provides a loan secured by a mortgagee's interest in a mortgage and in effect becomes the assignee of that mortgage.
Examples
“Accordingly, the submortgagee can take⟳ no action against the ship or owner unless and until the underlying mortgage becomes enforceable.”
CEFR level
C1
Advanced
This word is part of the CEFR C1 vocabulary — advanced level.
This word is part of the CEFR C1 vocabulary — advanced level.
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