Definition of EQUITABLE MORTGAGE


EQUITABLE MORTGAGE

Eng. law. The deposit of title-deeds, by the
owner of
an estate, with a person from whom he has borrowed money, with an
accompanying agreement to execute a regular mortgage, or by the mere
deposit, without even any verbal agreement respecting a regular security. 2
Pow. on Mort. 49 to 61, 1 Mad. Ch. Pr. 537, 4 Madd. R. 249, 1 Bro. C. C.
269, 12 Ves. 197, 3 Younge & J. 150, 1 Rus. R. 141.

2. In Pennsylvania, there is no such thing as an equitable mortgage. 3 P.
S. R, 233, 3 Penna. R. 239, 17 S. & R. 70, 1 Penna. R. 447.


Source: Bouviers Law Dictionary 1856 Edition

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