195. Proviso for cesser or discharge.

f.     Provisions of Legal Mortgage as to Cesser

195.     Proviso for cesser or discharge.

In a legal mortgage by demise1, the former proviso for redemption2 has been replaced by a proviso for cesser. This provides that if the mortgagor on a given day pays to the mortgagee the debt and interest the mortgage term is to cease3. In the case of a legal charge4 there is a similar proviso that on payment on the given day the mortgagee will duly discharge the security. Since in the former case the term ceases