284. Possession of title deeds by equitable incumbrancer.

284.     Possession of title deeds by equitable incumbrancer.

As between equitable incumbrancers the mere possession of the title deeds is not enough to give a subsequent incumbrancer priority over an earlier one1: there must be some default on the part of the earlier incumbrancer2. If the possession of the title deeds is an essential part of the earlier incumbrancer's security, the same considerations arise as in the case of a legal mortgagee3, and if he omits to inquire for and get in the deeds4, or, having got them, allows them by