504. In English law, the following mortgages are eqnitanle (1) Where the subject of a mortgage is trust property, which security ig effected either by a formal deed or a written memorandum, notice being given to the trustees in order to preserve the priority. Where it is an equity of redemption, which is merely a right to bring an action in the chancery division to redeem the estate. (3) Where there is a written agreement only to make a mortgage, which creates an equitable lien on the land. (4) Where a debtor deposits the titledeeds of his estate with his creditor or some person on his behalf, without even a verbal communication. ‘The deposit itself is deemed evidence of an executed agreement or contract for a mortgage for such estate. Wharton.—First mortgage. The first (in time or right) of a series of two or more mortgages covering the same property and successively attaching as liens upon it; also, in a more particular sense,