Is a deposit of a deed for securing a debt only a contract for a mortgage?
Ontario, Canada
The following excerpt is from Jamieson v. London and Canadian Loan and Agency Co., 1899 CanLII 23 (ON CA):
That judgment was much discussed in Moores v. Choat. A deposit of a deed for securing a debt, it was said, is only a contract for a mortgage, and a mortgage of a lease is always made by experienced persons not by assignment but in the form of an underlease, and it is made in that form for the express purpose of protecting the mortgagee from being liable to the landlord under the covenants in the original lease. What pretence then was there for compelling the depositary to take an assignment of the lease.
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