TRANSFER OF LAND ACT 1893 - SECT 112
TRANSFER OF LAND ACT 1893 - SECT 112
112 . Further remedies of mortgagee or annuitant
(1) Subject to the
provisions of section 112A besides his other remedies every mortgagee or
annuitant for the time being and every transferee of a mortgage or charge for
the time being shall be entitled as often as it shall happen that the interest
or annuity or any part thereof respectively shall be in arrear for 21 days and
after 7 days shall have elapsed from an application to the occupier or tenant
for the payment thereof to enter upon the mortgaged or charged land and
distrain the goods and chattels of such occupier or tenant for the arrears of
the said interest or annuity and the distress and distresses then and there
found to dispose of in like manner as landlords may do in respect of
distresses for rent reserved upon common demises and out of the sale moneys to
retain the moneys which shall be so in arrear and all costs and expenses
occasioned by such distress and sale.
(2) Despite subsection
(1), no occupier or tenant shall be liable to pay to any such mortgagee or
annuitant or transferee a greater sum than the amount of rent which at the
time of making such application for payment shall be due from such occupier or
tenant, and any amount so paid as well as any amount which shall be paid by
him to any such mortgagee or annuitant or transferee during the time he may be
in receipt of the rents and profits shall be held to be pro tanto satisfaction
of the rent.
(3) If there be more
than one mortgage or charge on any land the mortgagees or annuitants shall be
entitled to exercise the remedy given by this section according to their
priorities.
[Section 112 amended: No. 17 of 1950 s. 28; No. 19
of 2010 s. 51.]