Real Estate Vocab Ending in EE
Real Estate Vocab Ending in OR
It's a bit confusing to keep the vocabulary words that end in -ee and -or straight. Who is the lessee and who is the lessor? What is the person called who makes an offer on a home?
The chart below will help you keep these words straight. It should help you determine what the role of each party is if you are presented with questions in the exam that contain them.
Remember that a mortgagee is the lender in a mortgage, and a mortgagor is the borrower in a mortgage.
A vendee is the buyer in a land contract, and a vendor is the seller in a land contract.
A trustee is the neutral party that holds the deed in a deed of trust. A trustor is the borrower in a deed of trust.
A lessee is the tenant whereas the lessor is the landlord.
An offeree is the person to whom an offer is made. An offeror is a person who makes an offer.
An optionee is person to whom an option is given, while an optionor is the person who gives an option.