160. Legal mortgages.

A legal mortgage of unregistered land1 can be created only by demise, sub-demise or legal charge2. A legal mortgage of registered land can be made only by a charge by deed expressed to be by way of legal mortgage or by charging the estate with the payment of money, and not by demise3.

Since, by making a pledge or mortgage of his property, the owner does not cease to be the owner of the property any further than is necessary to give effect to the security he has thus created4, he can mortgage the property again. The mortgagor of a