Conveyancing and Lawof Property Act 1886 · 2020 Revised Edition · Part 4 · Mortgages
25. Regulation of exercise of power of sale
Feedback & supportA mortgagee shall not exercise the power of sale conferred by this Act unless —
mortgagee
“mortgagee” includes any person from time to time deriving title under the original mortgagee;
notice requiring payment of the mortgage money has been served on the mortgagor or one of several mortgagors, and default has been made in payment of the mortgage money or part thereof for 3 months after the service;
mortgage money
“mortgage money” means money or money’s worth secured by a mortgage;
some interest under the mortgage is in arrears and unpaid for one month after becoming due; or
mortgage
“mortgage” includes any charge on any property for securing money or money’s worth;
there has been a breach of some provision contained in the mortgage deed or in this Act, and on the part of the mortgagor, or of some person concurring in making the mortgage, to be observed or performed, other than and besides a covenant for payment of the mortgage money or interest thereon.
mortgagor
“mortgagor” includes any person from time to time deriving title under the original mortgagor, or entitled to redeem a mortgage according to his estate, interest or right in the mortgaged property;