DEFEASANCE MAY BE SHOWN BY PAROL

45-905. DEFEASANCE MAY BE SHOWN BY PAROL. The fact that a transfer was made subject to defeasance on a condition may, for the purpose of showing such transfer to be a mortgage, be proved (except as against a trustee under any trust deed or transfer in trust, or a subsequent purchaser or encumbrancer for value and without notice), though the fact does not appear by the terms of the instrument.