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STATUTE OF LIMITATIONS (NORTHERN IRELAND) 1958 - SECT 38

Limitation of actions to recover principal money secured by a charge on land or personal property.

38.(1) No action shall be brought to recover any principal sum of money
secured by a mortgage or charge on land or personal property (other than a
ship) after the expiration of twelve years from the date when the right to
receive the money accrued.

(2) In its application to a mortgage which was apportioned to the Government
of Northern Ireland by section thirty-one of the
Government of Ireland Act, 1920 (which relates to the Church Temporalities
Fund), sub-section (1) shall have effect as if for the words "twelve years"
there were substituted the words "thirty years".

(3) The right to receive any principal sum of money secured by a mortgage or
other charge shall, for the purposes of this section, be deemed not to accrue
so long as the property subject to the mortgage or charge comprises any future
interest or any life insurance policy which has not matured or been
determined.

© 1958 Crown Copyright

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