373. Transfer of mortgage to new trustees.

373.     Transfer of mortgage to new trustees.

On a mortgage to trustees it is the practice not to disclose the trust, and when a transfer is made to new trustees it is sufficient to recite that they have become entitled in equity to the mortgage debt and securities on a joint account1. This justifies the transfer to them and the trust will still be kept off the title2, and, as a person dealing in good faith with a mortgagee is not concerned with any trust at any time affecting the mortgage money or its income