Mortgages (Special Provisions) Act (Cap. 304).

An Act of Parliament to enable mortgage finance companies to obtain possession more easily of property in respect of which they are able as mortgagees to exercise their power of sale or appoint receivers.

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English

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LEX-FAOC063547

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This Act allows mortgage finance companies to obtain possession of a mortgaged property if conditions specified in this Act are fulfilled. Within a given time, the defendant, if he or she believes that not all the specified conditions do exist in relation to the property, may file an affidavit in response to summons. At a given time after the summons has been served on the defendant, the Company may apply to the court for a decree for possession of the mortgaged property, and the court shall pass such if it is satisfied that the specified conditions exist. This Act shall have effect notwithstanding the terms of a lease or tenancy agreement, and notwithstanding any other written law.

Legislation