489. Right as between tenant for life and mortgagee.

Where the property is settled land, the legal estate in fee simple is vested in the tenant for life, who holds it as trustee for all the persons entitled under the settlement1, and he is entitled to possession of the title deeds2. The court may, however, take charge of the deeds when they are in danger in the custody of the tenant for life3, and the trustees of the settlement are entitled to retain title deeds which they require for the purposes of their trusts4. A mortgagee of the beneficial life interest of a tenant for life, which is