Northern Territory Consolidated Acts Northern Territory Consolidated Acts26. Redemption
An action to redeem mortgaged property in the possession of a mortgagee is not maintainable against that mortgagee if brought after the expiration of a limitation period of 12 years from the date on which that mortgagee or a person through whom he claims last -
(a) went into possession of the property; or
(b) received a payment of principal money or interest secured by the mortgage from the plaintiff or from a person through whom he claims,
or, when both things happen, the later of those dates.