283. Effect of conduct of legal mortgagee.

283.     Effect of conduct of legal mortgagee.

A legal mortgagee who gets the title deeds into his custody and subsequently loses or parts with possession of them is not postponed to a subsequent incumbrancer to whom they are delivered on the ground of mere negligence or want of prudence in the custody of them1, nor is he postponed if he has lent them to the mortgagor upon a reasonable representation made by the mortgagor as to his object in borrowing them2. However, he will be postponed on the ground of fraud, that is, where he