Land And Conveyancing Law Reform Act 2009

98.

Abandoned property.

98.— (1) Where a mortgagee has reasonable grounds for believing that—

( a) the mortgagor has abandoned the mortgaged property, and

( b) urgent steps are necessary to prevent deterioration of, or damage to, the property or entry on it by trespassers or other unauthorised persons,

the mortgagee may apply to the District Court, or any court already seised of any application or proceedings relating to the mortgaged property, for an order authorising the mortgagee to take possession of the property.

(2) On such an application the court may make an order authorising the mortgagee to take possession of the property on such terms and conditions as the court thinks fit, notwithstanding that the mortgagor dissents or does not appear.

(3) Without prejudice to the generality of subsection (2) , an order under this section may specify—

( a) the period during which the mortgagee may retain possession of the mortgaged property,

( b) works which may be carried out by the mortgagee for the purpose of—

(i) protecting the mortgaged property, or

(ii) preparing it for sale in exercise of the mortgagee’s power under section 100,

( c) costs and expenses incurred by the mortgagee which may be added to the mortgage debt.

(4) The mortgagee is not liable to account strictly to the mortgagor during a period of possession under an order under this section.