sec.17HAmount mortgagor may recover if farm equipment is not returned

sec.17H Amount mortgagor may recover if farm equipment is not returned

This section applies— if— the mortgagee does not return the farm equipment to the mortgagor; and the repossession value of the farm equipment is— at least equal to the net amount payable under the mortgage; or less than the net amount payable under the mortgage, but the total of the repossession value and the actual payments is more than the net amount payable; and whether or not the mortgagor gives the mortgagee notice under section 17D . The mortgagor may recover from the mortgagee an amount equal to the total of the repossession value and the actual payments, less the net amount payable. s 17H ins 2002 No. 52 s 10 (sec.17H-ssec.1) This section applies— if— the mortgagee does not return the farm equipment to the mortgagor; and the repossession value of the farm equipment is— at least equal to the net amount payable under the mortgage; or less than the net amount payable under the mortgage, but the total of the repossession value and the actual payments is more than the net amount payable; and whether or not the mortgagor gives the mortgagee notice under section 17D . (sec.17H-ssec.2) The mortgagor may recover from the mortgagee an amount equal to the total of the repossession value and the actual payments, less the net amount payable.

• (a) if— (i) the mortgagee does not return the farm equipment to the mortgagor; and (ii) the repossession value of the farm equipment is— (A) at least equal to the net amount payable under the mortgage; or (B) less than the net amount payable under the mortgage, but the total of the repossession value and the actual payments is more than the net amount payable; and
• (i) the mortgagee does not return the farm equipment to the mortgagor; and
• (ii) the repossession value of the farm equipment is— (A) at least equal to the net amount payable under the mortgage; or (B) less than the net amount payable under the mortgage, but the total of the repossession value and the actual payments is more than the net amount payable; and
• (A) at least equal to the net amount payable under the mortgage; or
• (B) less than the net amount payable under the mortgage, but the total of the repossession value and the actual payments is more than the net amount payable; and
• (b) whether or not the mortgagor gives the mortgagee notice under section 17D .
• (i) the mortgagee does not return the farm equipment to the mortgagor; and
• (ii) the repossession value of the farm equipment is— (A) at least equal to the net amount payable under the mortgage; or (B) less than the net amount payable under the mortgage, but the total of the repossession value and the actual payments is more than the net amount payable; and
• (A) at least equal to the net amount payable under the mortgage; or