Covenantor

Definition

  • A person who promises to be responsible for the repayment of a loan. In a mortgage this means the Borrower.

Synonyms
receiver, recipient

Alternate Spellings
guarantor, covenanter, borrower

Related Terms and Acronyms

  • Borrow Definition,
    • To get a loan of money.
    • Sand, gravel or other material used for grading; a slope.
  • Borrower Definition,
    • A person who borrows money or obtains a loan.
  • Co-signer Definition,
    • A person who signs a promissory note that is also signed by one or more other parties. All parties take responsibility for the debt if any of the others renege.
  • Completion Bond Definition,
    • Insurance purchased to make sure that an important project is completed, even if something unexpected happens, financial or otherwise.
  • Guarantor Definition,
    • Someone who guarantees something.
  • Mortgagor Definition,
    • The borrower in a mortgage transaction.
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