Equitable mortgage

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EQUITABLE MORTGAGE, Eng. law. The deposit of title-deeds, by the owner of an estate, with a person from whom he has borrowed money, with an accompanying agreement to execute a regular mortgage, or by the mere deposit, without even any verbal agreement respecting a regular security. 2 Pow. on Mort. 49 to 61; 1 Mad. Ch. Pr. 537; 4 Madd. R. 249; 1 Bro. C. C. 269; 12 Ves. 197; 3 Younge & J. 150; 1 Rus. R. 141.
     2. In Pennsylvania, there is no such thing as an equitable mortgage. 3 P. S. R; 233; 3 Penna. R. 239; 17 S. & R. 70; 1 Penna. R. 447.

References in periodicals archive ?
Bruce Calabrese, president of Equitable Mortgage in Columbus, Ohio, says the hefty new premiums make "FHA too restrictive and unattractive" for most refinancers in his area, even with slightly higher loan ceilings.
Some lot owners who have attempted to simply walk away have seen Double Diamond foreclose on the property and use its United Equitable Mortgage financing arm to create huge credit problems for customers.
It works using an equitable mortgage, giving homeowners access to credit without repayments or interest.
The buyers' lender could not seek an equitable mortgage against a residential seller who wrongly remained the record owner after closing, according to the Appellate Division of the New York Supreme Court.
405,000 of these shares will become subject to an equitable mortgage and