When is the deadline for limitation - mortgagee's action to recover interest secured by a mortgage?
The catalogue records a 3 years period from The date on which the cause of action first accrued, or where a prior mortgagee in possession discontinued possession after that date, the date of discontinuance, whichever is the later. This draft page remains free only until its source, worked example and limits are reviewed.
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Calculation basis and source
- Period
- 3 years
- Trigger
- The date on which the cause of action first accrued, or where a prior mortgagee in possession discontinued possession after that date, the date of discontinuance, whichever is the later
- 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.
- The action is barred on whichever of the 3-year limb and the s 28(1)(b) principal-money limb FIRST expires, so both must be computed. A mortgagor cannot be required to pay or account for interest that could not be recovered by action (s 29(1)).