415. Tenancy created by mortgage deed.

415.     Tenancy created by mortgage deed.

Where the mortgage deed creates a tenancy in the mortgagor under the mortgagee at a rent1, this does not put the mortgagee in possession so as to make him liable to account to subsequent incumbrancers for the amount of the rent reserved2; nor is the mortgagee liable in such a case to account as mortgagee in possession to the mortgagor3.