164. Mortgages by demise.

A mortgage1 of an estate in fee simple can be effected at law by a demise for a term of years absolute2, subject to a provision for cesser on redemption3. Likewise, a mortgage of a term of years absolute is capable of being made at law by a sub-demise for a term of years absolute, less by one day at least than the term vested in the mortgagor