86Order for foreclosure

86 Order for foreclosure

(1)  [Section 86 Subsection (1) amended by No. 23 of 2021, s. 74, Applied:01 Jan 2022] [Section 86 Subsection (1) amended by No. 23 of 2021, s. 74, Applied:01 Jan 2022] If the Recorder does not reject an application under section 85 , the Recorder shall direct notice to be published once in a newspaper, published in this State, circulating in the locality in which the mortgaged land is situated offering the mortgaged land for sale, and shall appoint a time in the notice, not less than 30 days from the date of the advertisement in that newspaper, on or after which the Recorder may make and register an order for foreclosure in favour of the applicant unless in the interval a sufficient amount has been realized by the sale of land to satisfy the money due, and all expenses occasioned by the sale and proceedings.

(2)  [Section 86 Subsection (2) amended by No. 23 of 2021, s. 74, Applied:01 Jan 2022] An order for foreclosure under the hand of the Recorder shall when registered have the effect of vesting in the mortgagee all the estate and interest of the mortgagor in the land mentioned in that order, free from all right and equity of redemption on the part of the mortgagor or of any person claiming through or under the mortgagor.