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.