Source: Unlocking Land Law
This is probably one of the most important chapters in this book. Following is its summary:
1) Mortgage meaning - See the difference between mortgage and charge, Development of M at law and equity
2) The creation of mortgages - pre 1925, post 1925 and post 2002, methods of creation of equitable mortgage ie contract method (s2 of LP (MP) Act), deposit of title method and equitable interest method (s25 of LPA), creation of equitable charge
3) Protection of the mortgagOR - (a) equity of redemption (b) rule against undue influence - see the case of Barclays Bank v Obrien and Royal Bank of Scotland v Etridge and oppression - see the case of (c) no collateral advantage (d) Consumer Credit Act
4) Rights of the mortgagEE - (a) to sue (b) to possession - see s36 of Administration of Justice Act (c) power of sale - see s103 of LPA (d) to appoint a receiver (e) to foreclosure
5) Priority of mortgages
2) The creation of mortgages - pre 1925, post 1925 and post 2002, methods of creation of equitable mortgage ie contract method (s2 of LP (MP) Act), deposit of title method and equitable interest method (s25 of LPA), creation of equitable charge
3) Protection of the mortgagOR - (a) equity of redemption (b) rule against undue influence - see the case of Barclays Bank v Obrien and Royal Bank of Scotland v Etridge and oppression - see the case of (c) no collateral advantage (d) Consumer Credit Act
4) Rights of the mortgagEE - (a) to sue (b) to possession - see s36 of Administration of Justice Act (c) power of sale - see s103 of LPA (d) to appoint a receiver (e) to foreclosure
5) Priority of mortgages
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