IGLEHART v. ARMIGER. 523

probably derived from the civil law as to goods,(b) and it seems,
that such a lien upon goods is a personal right which cannot be
transferred to an other, (c) But in whatever way it may have origi-
nated, it is now well settled, that an equitable lien arises from the
principle of equity, that the purchaser of real estate ought not to
be allowed to hold it, as his own, until the vendor -has been
fully satisfied; and that it is a vendor's security and privilege.
It is indispensably necessary to the existence of such a lien, that
the parties should stand in the relation towards each other of vendor
and vendee of real estate, the purchase money of which has not
been fully paid. If that relationship is, in any manner whatever,
put off, altered, or relinquished, an equitable lien either cannot
arise, or will be destroyed. The pure relationship of creditor and
debtor, or of borrower and lender, is incompatible with the existence
of an equitable lien, excludes, or extinguishes it. In a contract
of loan, the relation of creditor and debtor attaches independ-
ently of any securities for the payment of the money, such as a
mortgage, bond, or note: which, when given, are the mere acci-
dental circumstances of a contract in all respects complete with-
out them. The chose in action is assignable in its nature, in equity
at least, independently of those evidences and securities of it. But
in a purchase of real estate payment is an essential part of the
contract; hence it is an established principle of equity, that the
vendor holds a lien upon the estate to secure the payment of the
purchase money; and this lien is an incident uniformly arising
from, and associated with such a contract.(d) It exists in all cases,
unless a manifest intention, that it should not exist, appears;(e) and
it continues until itTias been, in some way, inapliedly or positively
waived; all which it lays upon the vendee to shew.(f)

In the case of a purchase of a real estate "the equitable lien
arises as an incident thereto, and can only exist together with it,
as principal and incident. In the case of loan the debt is the
principal, and the bond, note, or mortgage are only the accidents
or incidents to it. In both cases the extinguishment of the prin-
cipal destroys its incidents. A purchase may be made, or a debt
may exist without an equitable lien, or a bond, note, or mortgage

(b) Mackreth v. Symmons, 15 Ves. 844; Walker v. Preswick, 2 Ves. 022,
(c) Daubigny v. Duval, 5 T. R. 606.—(d) Ex parte Gwynne, 12 Ves. 379.—(e) Mack-

reth v. Symmons, 15 Ves. 341.—(f) Mackreth v. Symmons, 15 Ves. 330; Sug.
Vend. & Pur. 386; Pow. Mort. 1062.