Covenantor

Definition

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

Synonyms
recipient, receiver

Alternate Spellings
guarantor, borrower, covenanter

Related Terms and Acronyms

• Borrow — Definition,
  • Sand, gravel or other material used for grading; a slope.
  • To get a loan of money.
• 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.