pewns.com |

  • Right to foreclosure or sale


    : Right to foreclosure or sale

    -

  • About :: In the absence of a contract to the contrary, the mortgagee has, at any time after the mortgage-money has become 3[due] to him, and before a decree has been made for the redemption of the mortgaged property, or the mortgage-money has been paid or deposited as ereinafter provided, a right to obtain from the Court 4[a decree] that the mortgagor shall be absolutely debarred of his right to redeem the property, or 4[a decree] that the property be sold. A suit to obtain 4[a decree] that a mortgagor shall be absolutely debarred of his right to redeem the mortgaged property is called a suit for foreclosure. 1. Certain words omitted by Act 20 of 1929, s. 29. 2. Ins. by s. 30, ibid. 3. Subs. by s. 31, ibid., for payable. 4. Subs. by s. 31, ibid., for an order. 28 Nothing in this section shall be deemed? 1 [(a) to authorise any mortgagee, other than a mortgagee by conditional sale or a mortgagee under an anomalous mortgage by the terms of which he