In order that the mortgagee may have the advantages of a mortgage of leasehold in the form of a sublease rather than an assignment of the lease and, as far as possible, obviate the disadvantages of a sublease (r), the usual practice is to insert in the sublease a declaration by the mortgagor that he is a trustee of the head term for the mortgagee, subject to the right of redemption, together with a power on the mortgagee's part to remove the mortgagor and appoint another trustee in his place and a power of attorney in favour of the mortgagee to assign the immediate reversion. Under these provisions a mortgagee may appoint a nominee of his own to be trustee in the place of the mortgagor and can vest the head term in the new trustee (s).

(o) Moores v. Choat, 1839, 8 Sim. 508; Moore v. Greg, 1848, 2 Ph. 717; Hand v. Blow, [1901] 2 Ch. 721; South of England Dairies v. Baker, [1906] 2 Ch. 631.

(p) See Sec. 52.

(q) The sublease must be expressed to be for part only of the period during which the lessee's term is to continue not including the last portion, or there must be an exception of the last day or the last hour or other last portion of the term. See the judgment in Jameson v. London and Canadian Loan and Agency Co., 27 Can. S.C.R. 435, quoted in part in Sec. 52.

(r) See Sec. Sec. 52 and 53, supra.