Overview

equitable mortgage


Related Overviews

 

'equitable mortgage' can also refer to...

 

More Like This

Show all results sharing this subject:

  • Law

GO

Show Summary Details

Quick Reference

A mortgage under which the mortgagee does not obtain a legal interest in the land. An equitable mortgage may arise as follows:(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).

(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).

Subjects: Law.


Reference entries

Users without a subscription are not able to see the full content. Please, subscribe or login to access all content.