On the mortgagee's death without having transferred the mortgage, the debt and security devolve upon his personal representatives, who can institute foreclosure proceedings until they have transferred the mortgage to a beneficiary or a transferee for value1. Where the legal estate is in a trustee for the mortgagee, he must be a party2; he should, if possible, be joined as claimant3. Trustees sufficiently represent their beneficiaries for the purpose of suing for foreclosure4.
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