103Facilitation of redemption in case of absent or unknown

103 Facilitation of redemption in case of absent or unknown mortgagees (1) When any person entitled to receive payment of any money secured by memorandum of mortgage is out of the jurisdiction, cannot be found, or is unknown, or it is uncertain who is so entitled, the court, upon the application of the person entitled to redeem the mortgaged premises, may order the amount of the debt to be ascertained in such manner as the court thinks fit, and direct the amount so ascertained to be paid into court.

(2) The court shall order the amount so paid into court to be paid to the person entitled, upon the application of that person, and on proof that the memorandum of mortgage and all deeds or documents evidencing title which were delivered by the mortgagor to the mortgagee on executing the memorandum of mortgage, or in connection therewith, have been delivered up to the person by whom the amount was so paid into court, or his or her executors, executrices, administrators, administratrices or assigns, or have been otherwise satisfactorily accounted for. (3) Upon production to the registrar-general of the certificate of a registrar of the court that the payment was directed as provided in subsection (1) and has been made— (a) he or she shall make such entries in the register as are necessary; and (b) the entry shall be a discharge of the land from the mortgage: Provided that as between the mortgagor and the person entitled to receive payment, any amount which is eventually shown by the person entitled to the mortgage debt to have been in fact due or payable over and above the amount so paid, shall continue to be a speciality debt due under the mortgage.