What context can I use each word in?
Learn when and how to use these words with these examples!
pledgeholder
Example
The bank is the pledgeholder of the borrower's car until the loan is repaid. [pledgeholder: noun]
Example
The pledgeholder has the right to sell the pledged property to recover the unpaid debt. [pledge: noun]
mortgagee
Example
The mortgagee approved the loan application and provided the funds to buy the house. [mortgagee: noun]
Example
The mortgagee has the right to take possession of the property if the borrower fails to make the payments. [mortgage: noun]
Good things to know
Which word is more common?
Mortgagee is more commonly used than pledgeholder in everyday language, especially in the context of real estate transactions. Mortgagee is a common term used in mortgage agreements and legal documents, while pledgeholder is less common and often used in the context of secured loans or credit.
Whatโs the difference in the tone of formality between pledgeholder and mortgagee?
Both pledgeholder and mortgagee are formal terms used in legal and financial contexts. However, mortgagee is more commonly used and has a wider range of applications, making it more versatile and suitable for both formal and informal situations.
