Law of Property Act 1925 (c. 20)

Part III E+W Mortgages, Rentcharges, and Powers of Attorney

Modifications etc. (not altering text)

C1 Certain provisions of Part III applied by Agriculture (Miscellaneous Provisions) Act 1941 (c. 50), s. 8(4), Weeds Act 1959 (c. 54), s. 3(3) and Leasehold Reform Act 1967 (c. 88), s. 19(8)

Mortgages E+W

102 Provision as to mortgages of undivided shares in land. E+W

(1) A person who was before the commencement of this Act a mortgagee of an undivided share in land shall have the same power to sell his [F1 interest under the trust to which the land is subject], as, independently of this Act, he would have had in regard to the share in the land; and shall also have a right to require the [F1 trustees] in whom the land is vested to account to him for the income attributable to that share or to appoint a receiver to receive the same from such trustees corresponding to the right which, independently of this Act, he would have had to take possession or to appoint a receiver of the rents and profits attributable to the same share.

(2) The powers conferred by this section are exercisable by the persons deriving title under such mortgagee.

Textual Amendments

F1 Words in s. 102(1) substituted (1.1.1997) by 1996 c. 47, s. 25(1), Sch. 3 para. 4(13)(a)(b) (with ss. 24(2), 25(4)); S.I. 1996/2974, art.2