sec.13Mortgagor may apply for a relieving order

sec.13 Mortgagor may apply for a relieving order

This section applies if— for a mortgage over farm equipment—the mortgagee has given the mortgagor a default notice under part 2 ; or for a mortgage over equipment (whether or not it is farm equipment)— the mortgagee has exercised, or purported to exercise, a right under the mortgage to take possession of the equipment; or the mortgagor has defaulted under the mortgage; or for another reason, the mortgagor believes the mortgagee may exercise, or purport to exercise, a right under the mortgage to take possession of, or sell, the equipment. The mortgagor may apply to the court for a relieving order if— the mortgagee has not taken possession of, or sold, the equipment or, if the mortgagee has taken possession of the equipment, has not parted with possession of the equipment; and the mortgagor is a farmer who is using, or intending to use, the equipment to carry out the farmer’s farming business, or would be using, or intending to use, the equipment to carry out the farmer’s farming business if the mortgagee had not taken possession of the equipment. (sec.13-ssec.1) This section applies if— for a mortgage over farm equipment—the mortgagee has given the mortgagor a default notice under part 2 ; or for a mortgage over equipment (whether or not it is farm equipment)— the mortgagee has exercised, or purported to exercise, a right under the mortgage to take possession of the equipment; or the mortgagor has defaulted under the mortgage; or for another reason, the mortgagor believes the mortgagee may exercise, or purport to exercise, a right under the mortgage to take possession of, or sell, the equipment. (sec.13-ssec.2) The mortgagor may apply to the court for a relieving order if— the mortgagee has not taken possession of, or sold, the equipment or, if the mortgagee has taken possession of the equipment, has not parted with possession of the equipment; and the mortgagor is a farmer who is using, or intending to use, the equipment to carry out the farmer’s farming business, or would be using, or intending to use, the equipment to carry out the farmer’s farming business if the mortgagee had not taken possession of the equipment.

• (a) for a mortgage over farm equipment—the mortgagee has given the mortgagor a default notice under part 2 ; or
• (b) for a mortgage over equipment (whether or not it is farm equipment)— (i) the mortgagee has exercised, or purported to exercise, a right under the mortgage to take possession of the equipment; or (ii) the mortgagor has defaulted under the mortgage; or (iii) for another reason, the mortgagor believes the mortgagee may exercise, or purport to exercise, a right under the mortgage to take possession of, or sell, the equipment.
• (i) the mortgagee has exercised, or purported to exercise, a right under the mortgage to take possession of the equipment; or