M

Mineral Section

This is a parcel numbering sequence, unique to the mineral claims diagram book. None of these is part of current land descriptions. See the index pages for the mineral claims diagram book, available in SAILIS.

Mortgage (M)

The means by which the property of a debtor is made security for the payment of a debt. A mortgage may be of real or personal property. A mortgage of land under the RPA takes the form of an instrument under which the registered proprietor changes his or her interest in the land with the payment of the debt. An example of a mortgage of personal property is a bill of sale.

Mortgagee

The creditor - ie the person to whom the debt is owed, under a mortgage. For the purposes of the RPA, the word means the registered proprietor of a mortgage.

Mortgagor

Generally the debtor -  ie the person who owes the debt, under a mortgage. For the purposes of the RPA, the word means the registered proprietor of land which is subject to a mortgage.