Section 147 — Property Law Act 2007: Mortgagee in possession of land may exercise powers under lease

147 Mortgagee in possession of land may exercise powers under lease (1) A mortgagee in possession of mortgaged land that is subject to a lease may do the following as though the mortgagee were for the time being entitled to the reversion of the land: (a) exercise all the powers of the lessor: (b) enforce by legal proceedings in the name of the mortgagee all rights and remedies of the lessor. (2) Subsection (1) applies— (a) whether the lease was entered into by the mortgagee or by the current mortgagor or by any other person; and (b) whether the lease was entered into before or after the mortgagee entered into possession. Compare: 1952 No 51 s 91(11), (14) ; 1952 No 52 s 108(1)