When is the deadline for limitation - action to redeem mortgaged property in the mortgagee's possession?
The catalogue records a 12 years period from The later of the date the mortgagee last went into possession of the property and the date the mortgagee last received a payment of principal or interest from the plaintiff. This draft page remains free only until its source, worked example and limits are reviewed.
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Calculation basis and source
- Period
- 12 years
- Trigger
- The later of the date the mortgagee last went into possession of the property and the date the mortgagee last received a payment of principal or interest from the plaintiff
- Counting
- The encoded calculator method must be independently documented before publication.
- Rollovers and holidays
- Holiday, closure and order treatment must be independently documented before publication.
This route remains in preparation until a pinpoint official source is recorded.
- Limitation Act 1981 (NT) s 44, on the s 44(3)(b) gateways.
- Where both events occur the LATER date governs, so a payment of principal or interest restarts the period.