Obligee
One to whom an obligation (promise) is owned.

Obligor
One who legally binds (obligates) oneself, such as the maker of a promissory note.

Original Cost
The purchase price of property, paid by the present owner. The present owner may or may not be the first owner.

Owner's Policy
A policy of title insurance usually insuring an owner of real estate against loss occasioned by defects in, liens against or unmarketability of the owner's title.