Words and Phrases - "mortgagor"

a
87
b
44
c
77
d
51
e
38
f
31
g
18
h
14
i
74
j
2
k
2
l
32
m
56
n
25
o
38
p
80
q
3
r
76
s
90
t
46
u
16
v
9
w
23
y
2

The Queen v. Epstein, 84 DTC 6259, [1984] CTC 270 (FCTD)

Summary Under
Tax Topics - Income Tax Regulations - Regulation 4900 - Subsection 4900(4)

It was held that the word "mortgagor" in an ancestor of regulation 4900(4) should be taken to refer only to the person who first grants the mortgage, rather than also to an assignee of the mortgagor. It was stated that this regulation was "a means to prevent an original mortgagor who is not dealing with the mortgagee at arm's length from granting an improvident mortgage on business or investment property at an excessive rate of interest".

Words and Phrases
mortgagor
Locations of other summaries Wordcount
Tax Topics - Statutory Interpretation - Interpretation Act - Section 17 23