Bill mortgages his home to the Bank of Montreal (BMO) for $60,000.00 on January 1, 2019. BMO registers the mortgage on January 2, 2019. Bill then grants a mortgage to the Bank of Nova Scotia (BNS) on March 2, 2019 for $30,000.00. BNS registers the mortgage on March 2, 2019. Bill defaults on both of these mortgages in November of 2019. BMO is owed $60,000.00 including costs. BNS is owed $30,000.00. At the time of default, both banks believe the property is worth at least $200,000.00. Advise BMO on what rights it has against Bill in order to protect its interest. Also discuss what rights BNS has and what rights, if any, that Bill has.