Section 110 — Property Law Act 2007: Redemption by order of court
Text of the provision Official document
110 Redemption by order of court A court may, in a circumstance referred to in section 109(1) , make— (a) all or any of the following orders on the application of the current mortgagor or any other person entitled to redeem the mortgaged property: (i) an order to determine, in the manner that the court thinks fit, the amounts secured by the mortgage that would have been payable if the discharge of the mortgage had been sought under sections 97 to 101 : (ii) an order that the total amount determined under subparagraph (i) be paid into court: (iii) an order declaring that all amounts secured by the mortgage have been paid in full: (b) an order that the amount paid into court be paid to a person who is entitled to receive payment of the amounts secured by the mortgage if— (i) the person applies for an order under this paragraph; and (ii) the court is satisfied that the instruments of title relating to the mortgaged property have been delivered to the current mortgagor or other person entitled to redeem the mortgaged property or have otherwise been satisfactorily accounted for. Compare: 1952 No 51 s 87(1), (3)
Official source: legislation.govt.nz
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