Section 150 — Property Law Act 2007: Mortgagee in possession may protect or repair mortgaged land or goods

150 Mortgagee in possession may protect or repair mortgaged land or goods (1) A mortgagee in possession of mortgaged land or goods may take any proper and necessary measures for the protection, insurance, maintenance, preservation, or repair of the land or goods. (2) A mortgagee in possession of mortgaged land or goods is not under any duty to take the measures referred to in subsection (1), except so far as the cost of those measures can be met from income from the land or goods received as mortgagee in possession.