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CONVEYANCING ACT 1881 - SECT 20

Regulation of exercise of power of sale.

20. A mortgagee shall not exercise the power of sale conferred by this Act
unless and until

(i)Notice requiring payment of the mortgage money has been served on the
mortgagor or one of several mortgagors, and default has been made in payment
of the mortgage money, or of part thereof, for three months after such
service; or

(ii)Some interest under the mortgage is in arrear and unpaid for two months
after becoming due; or

(iii)There has been a breach of some provision contained in the mortgage deed
or in this Act, and on the part of the mortgagor, or of some person concurring
in making the mortgage, to be observed or performed, other than and besides a
covenant for payment of the mortgage money or interest thereon.

© 1881 Crown Copyright

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