RODMAN, Justice.
"A mortgage is a conveyance by a debtor to his creditor, or to some one in trust for him, as a security for the debt." Robinson v. Willoughby, 65 N.C. 520; Watkins v. Williams, 123 N.C. 170, 31 S.E. 388; Wilson v. Fisher, 148 N.C. 535, 62 S.E. 622.
"A mortgage which purports to secure the payment of a debt has no validity if the debt has no existence." Bradham v. Robinson,
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