Land Titles Act 1993 · 2020 Revised Edition · Part 8 · Mortgages and Charges
75. Entry into possession
Feedback & supportIf default is made in payment of the interest, principal or other money, secured by a mortgage or charge, or in payment of any part thereof, the mortgagee or chargee is, as against the mortgagor or chargor and those claiming through or under the mortgagor or chargor, entitled to enter into possession of the mortgaged or charged land and to receive the rents and profits thereof.
interest
“interest”, in relation to land, means any interest in land recognised as such by law, and includes an estate in land;
The power of entry into possession conferred by this section must not be exercised until one month’s notice has been given to the mortgagor or chargor.
Subject to this section, a mortgagee or chargee has the like remedies for obtaining possession of the mortgaged or charged land as are by law given to a landlord against a lessee or tenant whose term is expired or whose rent is in arrear.
land
“land” means —(a)the surface of any defined parcel of the earth, so much of the subterranean space below and so much of the column of airspace above the surface whether or not held apart from the surface as is reasonably necessary for the proprietor’s use and enjoyment, and includes any estate or interest therein and all vegetation growing thereon and structures affixed thereto; or(b)any parcel of airspace or any subterranean space whether or not held apart from the surface of the earth and described with certainty by reference to a plan approved by the Chief Surveyor and filed with the Authority, and includes any estate or interest therein and all vegetation growing thereon and structures affixed thereto,and where the context so permits, the proprietorship of land includes natural rights to air, light, water and support and the right of access to any highway on which the land abuts;
Where a mortgagee or chargee has given notice of the mortgagee’s or chargee’s intention to enter into receipt of the rents and profits of the mortgaged or charged land to the tenant or other person liable to pay or account for them, the receipt in writing of the mortgagee or chargee is sufficient discharge for any rents and profits therein expressed to be received, and any person paying them is not bound and need not be concerned to inquire as to any default or other circumstance affecting the right of the mortgagee or chargee to give such notice beyond the fact of the mortgagee or chargee being duly registered as mortgagee or chargee of the land.