33-703. Effect of mortgage as lien; right to
possession of mortgaged property; rights of mortgagee in property
acquired by mortgagor after execution of mortgage


A. A mortgage is a lien upon everything that would pass by a grant of the property,
but does not entitle the mortgagee to possession of the property unless authorized by the
express terms of the mortgage. After execution of the mortgage, the mortgagor may agree
to a change of possession without a new consideration.


B. Title acquired by the mortgagor subsequent to the execution of the mortgage
inures to the mortgagee as security as if acquired before the execution.