In connection with sales secured by mortgage, one point is sometimes overlooked which is usually covered in contracts - that is, the transfer of the property by the mortgagor, and the consequent change of debtor.

Where concerns handle a large number of purchase money mortgages, much inconvenience is caused by transfers where the mortgage is assumed by a third party without the knowledge of the mortgagee, who is put to unnecessary trouble in finding the person who actually pays the coupons as they fall due. This difficulty can be guarded against by the insertion in the mortgage of a clause obligating the mortgagor to notify the mortgagee of any change of ownership, the wording of such clause depending upon the form of the mortgage itself.