Taxpayers are owners, mortgagees custodians and/or users of house property. MacMillan as beneficiary under a trust, or the financial institutions as mortgagees. In 1897, he forfeited the Regatta to his mortgagees. By 1913 the property had been put up for auction by the mortgagees. They had been the mortgagees of the estate since 1837, shortly before John D'Arcy's death. Powers of Trustees, Mortgagees, etc. In April the mill was ordered to be sold by the mortgagees. The Powers of Trustees, Mortgagees, etc. The mill was sold by the mortgagees in 1820.