Where a legal owner attempts to create a legal mortgage and fails due to lack of registration and deed, what must he still ensure in order that there be an equitable mortgage?

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The Answer is In order for there to be an equitable mortgage, the legal owner must still ensure that there is a valid agreement in place between the parties involved, clearly outlining the terms and conditions of the mortgage. This agreement should include the amount of the loan, the interest rate, the repayment schedule, and any other relevant details. Additionally, the legal owner must ensure that the borrower has possession of the property and that there is an intention to create a mortgage. This can be demonstrated through the actions and communications of the parties involved. Finally, the legal owner should take steps to protect their interest in the property, such as by registering a notice of the equitable mortgage or obtaining a legal charge over the property. By ensuring these elements are in place, the legal owner can still establish an equitable mortgage even if the legal requirements for a traditional mortgage have not been met.

Where a Legal Owner Attempts to Create a Legal Mortgage