Explanation:

- In a simple mortgage, the mortgagor retains possession of the property.

- The mortgagor is the borrower who owns the property and provides it as collateral.

- They continue using the property while it is mortgaged.

- The mortgagee is the lender who receives the security interest over the property.

- They do not possess the property but have the right to sell it if the mortgagor defaults.

- A co-owner refers to someone who shares ownership, not typically relevant to simple mortgages unless specified.

- An administrator is unrelated in this mortgage context, generally involved in managing estates or organizations.

Answer: Option 1 - Mortgagor