An Affidavit is a legal instrument used as supportive evidence for additonal legal documents, and you don't know what those additonal instruments are. 

@Devon CornwallYou will need to find an attorney who practices corporate/securities law.Aside from the normal securities and instruments, a registered account (RSPs, RIFS, TFSAs, etc) can hold a note associated with an arms-length mortgage, though there are only a handful of trustees in the country who will still administer arms-length mortgages  {This is not to be confused with a non arms-length mortgage on your primary residence which  is also permitted ... but seldom a wise thing to do}.

And you should probably work on your math - the 50% rule is a pretty crude tool, you may need a finer instrument like the BP calculators.

Often they like to see funds in the bank before you go under contract.Keep in mind that a HELOC really is a short-term instrument. 

Technically, you can give a mortgage to secure a line of credit (i.e a HELoC), a private loan, or another type of instrument.

It seems like you have No mortgage document and it is Highly unlikely you can place a Lien on the property without a recorded mortgage instrument, unless you sued for breach of contract and got a judgment.You need to talk to a local real estate attorney to understand what rights, if any, you have.

HELOCs really are short-term instruments. 

(a)Borrower shall keep and maintain at all times at the Mortgaged Property or the management agent's offices, and upon Lender's request shall make available at the Mortgaged Property, complete and accurate books of account and records (including copies of supporting bills and invoices) adequate to reflect correctly the operation of the Mortgaged Property, and copies of all written contracts, Leases, and other instruments which affect the Mortgaged Property.

It’s also intended to encourage the population to spend and/or not use traditional interest bearing instruments.

I attend one every month and it’s been instrumental in my learning so far