128. Power of co-owners to mortgage their property.

Where more persons than one own land, they may be beneficially interested in the land either jointly or as tenants in common, but in either case the legal estate in the land will be held by not more than four of the co-owners as joint tenants upon trust for the co-owners as joint tenants in common1. The co-owners may mortgage the land under trustees' statutory powers2. Where, however, the same persons are both the trustees and the beneficiaries, they may mortgage as absolute owners3.

Where a legal mortgage of land is made to several persons, the legal estate vests in