Section 170 — Property Law Act 2007: Withdrawal with consent of court

170 Withdrawal with consent of court (1) A court may, on the application of a mortgagee in possession, make an order consenting to the mortgagee’s withdrawal from possession of all or part of the mortgaged land, goods, or accounts receivable if the court is satisfied that,— (a) as at the date on which the application is heard, the mortgagee has substantially performed all the obligations and carried out all the duties of a mortgagee in possession— (i) under this subpart; or (ii) in the case of a person who became a mortgagee in possession of mortgaged property before 1 January 2008, under the Property Law Act 1952 ; and (b) there is no other good reason why the consent should not be given. (2) An application under this section must be served on the current mortgagor (unless the court orders otherwise). (3) The court may make an order under this section on any conditions the court thinks fit.