p. 96826. Non-possessory security
- D Fox, D FoxProfessor of Common Law, University of Edinburgh
- RJC Munday, RJC MundayReader Emeritus in Law, University of Cambridge
- B Soyer, B SoyerProfessor of Commercial and Maritime Law, Institute of International Shipping and Trade Law, Swansea University
- AM TettenbornAM TettenbornChair in Law, Swansea University
- and PG TurnerPG TurnerVisiting Senior Fellow of the Melbourne Law School
This chapter focuses on non-possessory security. It begins with a discussion of mortgages and their definitions. A mortgage involves the transfer of ownership of property from the mortgagor (the debtor or a third party) to the mortgagee (the creditor) as security for a debt or other obligation. The chapter then considers equitable charges and their definition, which include fixed and floating charges, before moving on to consider equitable liens. The chapter also examines statutory control with respect to non-possessory security, with particular emphasis on the protection of third parties and debtors.