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LANDS CLAUSES CONSOLIDATION ACT 1845 - SECT 109

Deposit of mortgage money on refusal to accept.

109. If, in either of the cases aforesaid, upon such payment or tender any
mortgagee shall fail to convey or release his interest in such mortgage as
directed by the promoters of the undertaking, or if he fail to adduce a good
title thereto to their satisfaction, then it shall be lawful for
the promoters of the undertaking [to pay into the Supreme Court], the
principal and interest, together with the cost, if any, due on such mortgage,
and also, if such payment be made before the expiration of six months notice
as aforesaid, such further interest as would at that time become due; and it
shall be lawful for them, if they think fit, to execute a deed poll, duly
stamped, in the manner herein-before provided in the case of the purchase of
lands by them; and thereupon, as well as upon such conveyance by the
mortgagee, if any such be made, all the estate and interest of such mortgagee,
and of all persons in trust for him, or for whom he may be a trustee, in such
lands, shall vest in the promoters of the undertaking, and they shall be
entitled to immediate possession thereof in case such mortgagee were himself
entitled to such possession.

© 1845 Crown Copyright

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