Does an unregistered equitable mortgage have priority over a registered judgment debt?
Newfoundland and Labrador, Canada
The following excerpt is from Apache Construction & Development Limited v HP Holdings Limited, 1988 CanLII 4422 (NL CA):
In Eyre v. McDowell (1861), 11 E.R. 71, Lord Cranford, in holding that a registered judgment debt did not take priority over an unregistered equitable mortgage, stated at p. 88: "... though he may seize the whole, yet it is the whole of that only of which the debtor was the beneficial owner, of that, which, if there had' been no judgment, the debtor might have appropriated for payment of the debt."
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