Bondi gave a mortgage to Dante on a parcel of land (located in Ontario), which he owned. Bondi later sold the mortgaged land to Green. Green, some time later, sold the land to Jones. Jones defaulted on payment of the mortgage. If Dante took action against Bondi, and Bondi paid the amount owing on the mortgage, Bondi would be entitled to an assignment of Dante's rights against the land and against Jones.

Question

Quizplus · Accepted Answer

In Ontario, if a mortgagor (Bondi) pays off the mortgage after selling the property, they are entitled to be subrogated to the mortgagee's (Dante's) rights, allowing them to pursue the current owner (Jones) for the debt.

Bondi Gave a Mortgage to Dante on a Parcel of Land