572. Foreclosure of equitable mortgage.

572.     Foreclosure of equitable mortgage.

The right of foreclosure exists in the case of an equitable mortgagee1 who has taken an agreement for a legal mortgage2 whether the charge relates to land3 or to personal estate4. The judgment in such a case is prefaced by a declaration of charge and, in order to complete the mortgagee's title, it directs a conveyance to him of the legal estate5 or, if necessary in the case of a chose or thing in action, the execution by the mortgagor of a power of attorney6. The