Section 145 — Property Law Act 2007: Mortgagee in possession may enter into lease of mortgaged land together with other land

145 Mortgagee in possession may enter into lease of mortgaged land together with other land (1) A mortgagee in possession may enter into a lease, at a single rent, of all or part of the mortgaged land together with other land that is the subject of any collateral security from the current mortgagor or any former mortgagor to the mortgagee. (2) The mortgagee must, in a case referred to in subsection (1), fairly and equitably apportion all expenses and rents between the properties. (3) However, any failure by the mortgagee to make an apportionment under subsection (2) does not affect the lessee or the lessee’s interest. Compare: 1952 No 51 s 97