单词 | equitable mortgage |
释义 | equitable mortgage 1. If the mortgagor has only an equitable interest in the land, he can only grant an equitable mortgage. For example, a mortgage granted by a beneficiary under a trust of land could only be equitable. 2. An equitable mortgage will arise if the mortgage is not made by deed (a requirement for legal mortgages). The contract for the mortgage must nevertheless be made in writing. 3. If a charge by way of legal mortgage of registered land is not entered onto the register, it takes effect in equity only (Land Registration Act 2002 s 27(1)). |
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