[Fr.], beneficiary, mortgagor. grantee, feoffee^, releasee

debtor, debitor^; mortgagor; defaulter &c 808; borrower.

The mortgagor is liable to the Government for the taxes, which amount to 1-1/2 to 2 per cent, per annum, so that he would really only receive 6 to 6-1/2 per cent, interest.

All mortgages are publicly recorded, and so the property is vested in the mortgagor till he is paid off, and when that is done it also is publicly recorded.

Mortgagors can now borrow at five per cent.