160. Legal mortgages.

3.     Creation of Mortgages and Charges

(1)     Legal Mortgages and Charges

(i)     Creation of Legal Mortgages

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