MORTGAGOR the owner of real estate financed with a MORTGAGE; one who pledges property as SECURITY for a loan. Example: Abel obtains a mortgage loan from Homebuyers Savings. Abel serves as a mortgagor.
MOST PROBABLE SELLING PRICE the property's most likely selling price when not all the conditions required for a MARKET VALUE estimate are relevant. Example: An APPRAISER estimated a property's most likely sales price at $100,000, assuming a sale within 20 days, whereas its market value of $120,000 might require up to 6 months to realize.