OR vs EE

Devisor

A person who gives (devises) property by will.

Trustee

An independent third party, holds bare or legal title. Main function is to sell the property at public auction if the trustor defaults on payments.

mortgagor

Borrower/pledging property

Grantee

Buyer or purchaser who is receiving title

Optionee

Name given to the party buying a straight real estate option. Once the option is exercised, becomes the buyer.

Licensee

One who is issued a license

Licensor

One who issues a license

Offeror

One who makes an offer

Grantor

Owner or seller who is transferring title

Offeree

Party to whom an offer is made

Leesee

Pays rent to the landlord.

Vendee

Purchaser, assumes the duty of responsibility.

Devisee

Receiver of real property interest by will

Lessor

Receives payment from the tenant.

Vendor

Seller of real property who transfers all responsibility for the property to the buyer or purchaser.

Trustor

The borrower.

Mortgagee

The lender (bank)

Beneficiary

The lender.

Optionor

The name given to the party selling a straight real estate option. Once the option is exercised, becomes the seller.