23. The Remedies of Mortgagees

Abstract

Titles in the Complete series combine extracts from a wide range of primary materials with clear explanatory text to provide readers with a complete introductory resource. This chapter discusses the remedies of legal mortgagees. These include action on a mortgagor’s covenant to repay; mortgagees taking possession; court proceedings for possession brought by mortgagee; mortgagee taking possession of a dwelling house; sale of the property where there is negative equity; court’s discretion to adjourn possession proceedings; the mortgagee’s statutory power of sale (when the power of sale arises, when the statutory power becomes exercisable, mortgagee’s duties on selling the property, the effect of sale); power to appoint a receiver; foreclosure; and remedies of an equitable mortgagee or chargee.