Glossary of terms
Maturity: The date on which the balance owing on a mortgage becomes due;
the final day of the term of a mortgage.
Mortgage: A document evidencing a debt owed by the borrower (mortgagor) to
the lender (mortgagee). Registration of the mortgage in the Land Title Office
transfers the mortgagor's interest in land to the mortgagee as security for the
repayment of the debt.
Mortgagee: The lender.
Mortgagor: The Borrower.