Humber/Ontario Real Estate Course 1 Exam Practice

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Which legal term refers to the individual that borrows funds using a mortgage?

  1. The trustee

  2. The trustor

  3. The lienholder

  4. The beneficiary

  5. The mortgagor

  6. The servient tenement

The correct answer is: The mortgagor

The correct answer is E. The mortgagor refers to the individual who borrows funds using a mortgage. In a mortgage agreement, the mortgagor is the borrower who pledges the property as security to the lender (mortgagee) until the loan is fully paid off. The trustee (option A), the trustor (option B), the lienholder (option C), the beneficiary (option D), and the servient tenement (option F) are not directly related to the individual who borrows funds using a mortgage.

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