79Power of mortgagee to sell or lease mortgaged land and other land together

79 Power of mortgagee to sell or lease mortgaged land and other land together

(1)  In the exercise by the mortgagee of a power of sale or lease contained or implied in a mortgage, the mortgaged land may be sold or leased together with any other land of whatever nature or tenure and whether registered land or not that is the subject of the mortgage or of any other mortgage from the mortgagor to the mortgagee by one sale or lease at one price or rent; and the mortgagee shall fairly and equitably apportion all costs, expenses, purchase-money, and rent between the lands so sold or leased.

(2)  [Section 79 Subsection (2) amended by No. 23 of 2021, s. 70, Applied:01 Jan 2022] A failure by the mortgagee to make the apportionment required by this section does not affect the purchaser or lessee or the title to any land in the mortgagee’s hands.