362. General extent of the mortgagee's interest.

7.     Estate and Interest of the Mortgagee

(1)     Extent of the Mortgagee's Interest

362.     General extent of the mortgagee's interest.

Although a mortgagee under a legal mortgage takes a term of years1, and a mortgagee under a legal charge has the same protection, powers and remedies as if he had been granted a term of years2, he takes this only to the extent to which the mortgagor is able to grant it; but, so far as is required to support the demise, all the mortgagor's estate and interest passes3. A mortgage