If there is no writing whatsoever then it cannot exist as an equitable mortgage
2 of 12
LPA 1925, s 99
Mortgagor in possession can grant certain leases that will be binding on the mortgage lender
3 of 12
AJA 1970, s 36
On lender’s applicn for possession of a dwelling house, the court has a statutory discretion to adjourn the proceedings or to grant a stay of execution of any order
4 of 12
LPA 1925, s 105
After sale, proceeds to be held on trust and used in declining order: superior mortgages; expenses of sale; cost of selling lender’s mortgage; inferior mortgages; any residue goes to mortgagor
5 of 12
LPA 1925, s 101
Mortgagor has power of sale
6 of 12
LPA 1925, S 91
In proceedings, any person interested (mortgagor or subsequent mortgagor) may apply for judicial sale rather than foreclosure
7 of 12
Limitation Act 1980, s 8
The right to sue for the capital sum will be statute-barred after 12 years if the mortgage is created by deed
8 of 12
Limitation Act 1980, s 20(5)
Re suing for interest, the limitation period is 6 years
9 of 12
LRA 2002, s 137
Rule = earlier equitable mortgage will prevail over the later
10 of 12
LRA 2002, s 48
Rule = legal mortgage will rank in order in which they are entered on the Land Register
11 of 12
LRA 2002, s 30
The regd charge will take priority over all unprotected mortgages
12 of 12
Other cards in this set
Card 2
Front
If there is no writing whatsoever then it cannot exist as an equitable mortgage
Back
LPA 1925, s 53(1)(a)
Card 3
Front
Mortgagor in possession can grant certain leases that will be binding on the mortgage lender
Back
Card 4
Front
On lender’s applicn for possession of a dwelling house, the court has a statutory discretion to adjourn the proceedings or to grant a stay of execution of any order
Back
Card 5
Front
After sale, proceeds to be held on trust and used in declining order: superior mortgages; expenses of sale; cost of selling lender’s mortgage; inferior mortgages; any residue goes to mortgagor
Comments
No comments have yet been made