|
|
Effect of payment on right of action to redeem mortgaged land in mortgagee's possession.
|
64.—Where—
|
|
| |
(a) a mortgagee is by virtue of the mortgage in possession of any mortgaged land, and
|
|
| |
(b) the mortgagee receives any payment from the mortgagor in respect of the principal or interest of the mortgage debt,
|
|
| |
an action to redeem the land in the mortgagee's possession may be brought at any time before the expiration of twelve years from the date of the payment.
|
