542. Assignee of equity of redemption.

542.     Assignee of equity of redemption.

The covenant for payment of the mortgage debt does not run with the land, and so the assignee of the equity of redemption is not liable to be sued on it by the mortgagee1. This is in accordance with the rules that, except as between lessor and lessee, the burden of the covenant does not run with the land at law and the burden of a positive covenant does not run with the land in equity2. If, however, the assignee is a purchaser on sale, he usually enters into