With respect to other creditors of the purported mortgagor , the analysis would be that, as regards them, no mortgage had been given.
If a mortgagee had the obligation or the right to pay or collect arrears of common expenses in relation to a unit not mortgaged to it by the mortgagor , then the mortgagee would not have the right to obtain such statement in respect of such unit.
The assets are mortgaged in such a way that the mortgagor can deal with them without the concurrence of the mortgagee.
In this regard it is noted that Mr. Beattie obtained the property on default of the mortgagor , Moore.
In that case there was a renewal agreement entered into between the mortgagor and the mortgagee to amend the terms of the mortgage at a time when it was known to the mortgagee that there were outstanding realty taxes.
It does not affect the right of the mortgagor to redeem so long as the mortgagor is given notice of the assignment.
Indeed that's right, or putting it differently, not sacrificing the interests of the mortgagor , or the borrower, that's right, yes indeed.
Because section 106, on a first reading, suggests to me that a mortgagor not in default is entitled simply to lease land and that the mortgagee cannot prevent…
Although the terms of the mortgage provided that the mortgagor should not grant any lease of the property without the bank's consent, the mortgagor did in fact grant such a lease some two months after the creation of the mortgage.
So this was not a sale by a mortgagee at all; it was a sale expressly by agreement of the mortgagee, a sale by the mortgagor and the money going into a joint account…