
MORTGAGE
28.12.17
MORTGAGE, contracts,
conveyancing. Mortgages are of several kinds: as the concern the kind
of property, mortgaged, they are mortgages of lands, tenements, and,
hereditaments, or of goods and chattels; as they affect the title of the
thing mortgaged, they are legal and equitable.
2.
In equity all kinds of property; real or personal, which are capable of
an absolute sale, may be the subject of a mortgage; rights in remainder
and reversion, franchises, and choses in action, may, therefore, be
mortgaged; But a mere possibility or expectancy, as that of an heir,
cannot. 2 Story, Eq. Jur. 1021; 4 Kent, Com. 144; 1 Powell, Mortg. 17,
23; 3 Meri. 667.
