1. A mortgage is a security given over interests in land for repayment of a loan. Nicholas has borrowed $400,000 from Westpac. Identify who is the mortgagor and who is the mortgagee.
2. Essentially the mortgagee's rights to treat the land as security for the land are noted and publicly available by the registration of their interest on the title. Identify two (2) rights of the mortgagor.
3. What is a mortgagee sale?
4. Is a mortgage a debt?
5. What is meant by the term "security" in a financial context?
6. Refer to the link below and answer the following questions: https://www.boroondara.vic.gov.au/planning-building/planning-permit-applications/restrictive-covenants

• Define what is a restrictive covenant and indicate two (2) examples of a restrictive covenant which may be applied to land.
• Who enforces a restrictive covenant?

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1 Mortgagor and Mortgagee The mortgagor is the individual who obtains a mortgage from the lender als... View the full answer