Section Sch7-“ 16 — Property Law Act 2007: Limitation of redemption actions

“ 16 Limitation of redemption actions “ (1) This section applies to a mortgage of land— “ (a) only if none of that land is subject to the Land Transfer Act 1952; and “ (b) only if, and after, the mortgagee has been in possession of all or any of that land for 12 years. “ (2) After the mortgage has become one to which this section applies, no action to redeem the land of which the mortgagee has been so in possession may be brought by, or by a person claiming through, the mortgagor. “ (3) This section overrides anything to the contrary in section 97 of the Property Law Act 2007 or in any other enactment. “ Compare: Limitation Act 1939 s 12 (UK) ” .