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Mortgage Decree, 1972 🇬🇭


N.R.C.D. 96

Mortgage Decree, 1972

  • Published in Government Gazette on 18 August 1972
  • Assented to on 4 August 1972
  • Commenced on 1 January 1973
  • [This is the version of this document from 18 August 1972.]
AN ACT to provide for the law relating to mortgages and for related matters

GENERAL PROVISIONS

1. Nature of a mortgage

(1)A mortgage for the purposes of this Act is a contract charging immovable property as security for the due repayment of a debt and the interest accruing on the debt or for the performance of any other obligation for which it is given, in accordance with the terms of the contract.
(2)A mortgage is an encumbrance on the property charged, and does not, except as provided by this Act, operate so as to change the ownership, right to possession or any other interest, whether present or future in the property charged.
(3)A mortgage may be created in an interest in immovable property which is alienable.

2. Act to govern all mortgages

(1)A mortgage of immovable property is only capable of b…

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