486. Mortgagee or chargee of freeholds or leaseholds.

(6)     Mortgagee's Rights as Regards Title Deeds

(i)     Right to Custody of Title Deeds

486.     Mortgagee or chargee of freeholds or leaseholds.

Where freeholds are mortgaged, whether by demise or legal charge1, a first mortgagee2 has the same right to possession of documents as if his security included the fee simple3; and where leaseholds are mortgaged, whether by sub-demise or legal charge4, a first mortgagee has the same right to possession of documents as if his security had been effected by assignment5. A legal mortgagee who omits to