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CONVEYANCING ACT 1881 - SECT 22

Mortgagees's receipts, discharges, &c.

22.(1) The receipt in writing of a mortgagee shall be a sufficient discharge
for any money arising under the power of sale conferred by this Act, or for
any money or securities comprised in his mortgage, or arising thereunder; and
a person paying or transferring the same to the mortgagee shall not be
concerned to inquire whether any money remains due under the mortgage.

(2) Money received by a mortgagee under his mortgage or from the proceeds of
securities comprised in his mortgage shall be applied in like manner as in
this Act directed respecting money received by him arising from a sale under
the power of sale conferred by this Act; but with this variation, that the
costs, charges, and expenses payable shall include the costs, charges, and
expenses properly incurred of recovering and receiving the money or
securities, and of conversion of securities into money, instead of those
incident to sale.

© 1881 Crown Copyright

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