A legal mortgagee by virtue of the conveyance to him of the legal estate is the terre tenant, that is to say, the person who, having a freehold interest in the land, has the pernancy or possession of the rents and profits (i), and is entitled, in the absence of reservation or agreement to the contrary, to convert his legal right of possession into actual possession at any time (j).

A legal mortgagee of real estate, whether of the fee or of a life interest therein, is entitled to the muniments of title to the estate, and a legal mortgagee of leasehold is entitled to the lease and all documents relating only to the term (k).

It is, however, provided in Ontario by the Mortgages Act, R.S.O. 1914, c. 112, s. 4, as follows:

4. Notwithstanding any stipulation to the contrary, a mortgagor, as long as his right to redeem subsists, shall be entitled, at reasonable times, on his request, and at his own cost and on payment of the mortgagee's costs and expenses in that behalf, to inspect and make copies or abstracts of or extracts from the documents of title relating to the mortgaged property in the custody or power of the mortgagee.

(h) Strahan, op. cit., p. 19. The courts of law did not, however, entirely lose sight of the fact that the substantial purpose of the transaction was merely to give a security to the mortgagee. tee Sec. 21, infra. As to the present law governing the devolution of the mortgagor's interest, see chapter 17, Persons Entitled on Death of Mortgagor.

(i) Cundiff v. Fitzsimmons, [1911] 1 K.B. 513.

(j) See chapter 22, Action for Possession, Sec. 212.

(k) Smith v. Chichester, 1842, 2 Dr. & W. 393, 18 R.C. 128; Manners v. Mew, 1885, 29 Ch.D. 725, 8 R.C. 682.