The Doctrine of Equity : Being a Commentary On the Law As Administered By the Court of Chancery

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Ben- nett, 1 Cai. Ca. E. 1.
PERFECT AND IMPERFECT MORTGAGES. 275 *convey tlie legal estate to the mortgagee, r^., „„-, and specify a day of forfeiture at law, there are other securities of an analogous character, but defective in one or both of these respects.
These imperfect securities are seven in number ; viz., 1. Mortgages of a trust or equity of redemption, and equitable mortgages by imperfect conveyance, or by contract to convey ; 2. Equitable mortgages by deposit of title deeds unaccompa
...nied by a written contract; 3. Welsh mortgages; 4. Trust deeds in the nature of mortgage ; 5. The equitable lien of a vendor or purchaser of real estate ; 6. Equitable fi.
fa. and elegit; and 7. Judgment charges under 1 and 2 Vict. c. 110, s. 13 and 14.
The first class of imperfect mortgages are, mort- gages of a trust or equity of redemption. In a mortgage of this kind the legal estate is ex concessis outstanding in the trustee or prior incumbrancer, and cannot be transferred to the mortgagee.


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