186. Several mortgagees.

Where several persons advance money on mortgage, there is a presumption that the money belongs to them in severalty even though the mortgage was made to them as joint tenants1. To obviate this, when trustees lend, it is usual to insert a statement that the money belongs to the lenders on a joint account2. Money advanced by more persons than one is deemed, as between them and the mortgagor, to belong to the survivor either where the advance is expressly stated to be on a joint account, or where the security is made to persons jointly