Offeree

1. In life insurance, receipt by a company of an insurance application accompanied by the first premium.

2. In property and casualty insurance, a company's receipt of an

application.

One who receives an offer. Generally a buyer offers a purchase contract to an owner, which makes the owner the offeree. When the seller offers a contract to a buyer, the buyer is the offeree.
Example: Brewster offers Smithton a contract in which Brewster offers to pay $120,000 for a property. Smithton is the offeree.