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Pronunciation varies by accent · noun
(law) One who provides a loan secured by a mortgagee's interest in a mortgage and in effect becomes the assignee of that mortgage..
Accordingly, the submortgagee can take no action against the ship or owner unless and until the underlying mortgage becomes enforceable.
Use submortgagee when its meaning, tone and grammar fit the full sentence. A synonym is not always a direct replacement.
Submortgagee means (law) One who provides a loan secured by a mortgagee's interest in a mortgage and in effect becomes the assignee of that mortgage..
The closest synonym depends on the sentence and intended sense.
The opposite depends on the specific sense.
Accordingly, the submortgagee can take no action against the ship or owner unless and until the underlying mortgage becomes enforceable.
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