Equitable Mortgage

Business, Legal & Accounting Glossary

Definition: Equitable Mortgage




Full Definition of Equitable Mortgage


An agreement which does not satisfy the formality requirements to be a legal mortgage, but which the courts might be prepared to enforce on equitable grounds. In particular, if the Mortgagor and the Mortgagee have a written contract to create a mortgage, but no Deed has been executed, this might constitute an equitable mortgage. The Mortgagee under and equitable mortgage is in a precarious position because his security will be lost if the mortgagor sells the mortgaged property to a purchaser without notice, and doesn’t repay the loan. However, if the mortgagee registers his mortgage as a class C(iii) LandCharge (UnregisteredConveyancing) or a Notice (RegisteredConveyancing) then it will be enforceable against the purchaser of the mortgaged land.


Cite Term


To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
https://payrollheaven.com/define/equitable-mortgage/
Modern Language Association (MLA):
Equitable Mortgage. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. September 16, 2021 https://payrollheaven.com/define/equitable-mortgage/.
Chicago Manual of Style (CMS):
Equitable Mortgage. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/equitable-mortgage/ (accessed: September 16, 2021).
American Psychological Association (APA):
Equitable Mortgage. PayrollHeaven.com. Retrieved September 16, 2021, from PayrollHeaven.com website: https://payrollheaven.com/define/equitable-mortgage/

Definition Sources


Definitions for Equitable Mortgage are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 6th April, 2020 | 5 Views.