LIMITATION ACT 2005 - SECT 25

LIMITATION ACT 2005 - SECT 25

25 .         Redemption — 12 years

                An action to redeem mortgaged property (whether real or personal) in the possession of a mortgagee cannot be commenced if 12 years have elapsed since the occurrence of the only or later of such of the following events as are applicable —

            (a)         the most recent possession by the mortgagee of the property in respect of which the action is brought;

            (b)         the receipt by the mortgagee of the most recent payment of principal money or interest secured by the mortgage from the person wishing to redeem the property.