223. Form of deposit of title deeds.

223.     Form of deposit of title deeds.

In an equitable mortgage by deposit of deeds the deposit could be of the deeds alone1, or might be accompanied by a memorandum of the terms of the deposit2 or by an agreement to give a mortgage3. In order to create an equitable mortgage, when the deposit of title deeds was made without a memorandum, the delivery had to be made to the creditor or his agent, being some person other than the debtor. So a memorandum appropriating as security to a creditor a policy which remained in the debtor's