Proponents of transmission flushing often claim 100% of the fluid is replaced. This is untrue for several reasons. When the engine is running and the transmission is in park, only a part of the fluid is circulated. A good deal of fluid simply flows from the pump back to the pan, through the pressure relief valve.
DEFINITION of 'Mortgagee'. An entity that lends money to a borrower for the purpose of purchasing a piece of real property. By accepting a mortgage on the real property, the lender creates security in the full repayment of the loan in the future.
assignment of mortgage. Definition. A written document serving as evidence of a transfer of a loan obligation from the original borrower to a third party. Use this term in a sentence. â The assignment of mortgage was included in the evidence presented to the court during the chapter 13 bankruptcy case yesterday.