case ignorant against pelham and other one seize of a estate subject to  several equitable encumbrance sell it to a purchaser and convey the legal  estate to he free from encumbrance except some of the equitable encumbrance  which be late in date to the other the purchaser have no notice of the other  encumbrance be hold a trustee for the except creditor only and they be prefer  to the other creditor lib Reg a fol b S c hark ms in chancery Nov Gibson and  partner be entitle to several security make by sir John eyles and Benjamin  Haskins style on real estate make several declaration of trust to several  person of part of those security in may they become indebt to Pelham and  winnington in pound on bind June follow Gibson and partner purchase the estate  for pound and afterward on that June they make a conveyance of the legal  estate to Pelham and winnington as a security for the money due to they on  bind and covenant that the estate be free from encumbrance except certain of  the equitable security specify they to the amount of pound in the whole such  of they as be not except be prior to those that be except two question saint  whether Pelham and winnington shall hold the estate subject to other equitable  encumbrance than those which be make know to they and be except in the  mortgage d how the pound shall be pay among the claimant creditor those that  be not except and of which no notice be give be prior in point of time to  those that be except Lord Hardwicke chancellor this be a question of weight  and consequence hope it will be a caution for the future scrivener and banker  who lend large sum of money on security and then give derivative security by  declaration of trust may as well be trust to their personal credit because  ambler in their power to defeat all their equitable creditor by convey the  legal estate to another in the present case it be contend by two set of  creditor that the one or other of they shall run away with the whole pound it  be most desirable to put they all upon a level if it can be do as in case of  equitable asset the great point be on the effect of notice I do not know that  I can carry this exception further than notice and it be no more than the tell  they there be no other creditor than these except the same as if notice in  pais the question on notice be whether it be so of all the creditor or only to  be for the benefit of those particular creditor in recompense for their  diligence Greswold v Marsham Charles Cas do not state the priority of the debt  if Powell who be exclude be prior to the other two judgement creditor that  case be material if subsequent to they it be otherwise shall consider of my  opinion and let the registry of that case be search and on Monday December his  lordship give his opinion that Pelham be to be consider as a trustee for the  except creditor who be by mean of the notice prefer to those that be not  except the case of Greswold v Marsham be in point he say he have endeavour to  divide the pound among the creditor equal but he can not do it by the rule of  the court the decree direct a account of what be due to the creditor except in  the conveyance of that June for the several debt so except a account of what  be due to winnington and Pelham for principal and interest in respect of the  debt secure by the say mortgage of that June and a account of what be due to  the several other defendant who be creditor by declaration of trust on the say  estate comprise in the say indenture of that June and who be not except in the  say indenture and then direct the estate to be sell with the approbation of  the master and the money to be apply in the first place to satisfy the debt of  the creditor except in the say indenture and in the next place to satisfy the  mortgage debt of winnington and Pelham and the surplus to be apply for the  benefit of the creditor not except in the say indenture ambler er p