When is the deadline for action to recover principal secured by a mortgage or charge?
The catalogue records a 144 months period from The date when the right to receive the money accrued. This draft page remains free only until its source, worked example and limits are reviewed.
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Calculation basis and source
- Period
- 144 months
- Trigger
- The date when the right to receive the money accrued
- 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.
- Amended by 31 of 1991 s. 8. Foreclosure of mortgaged personal property is also 12 years (s. 19(2)); foreclosure of mortgaged land is governed by the recovery of land provisions instead (s. 19(4)). Does not apply to a mortgage or charge on a ship (s. 19(6)).