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Law of Property Act 2000
89Regulation of exercise of power of sale
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89 Regulation of exercise of power of sale
(1) A mortgagee must not exercise the mortgagee's power of sale
(whether conferred by an Act or an instrument of mortgage) unless:
(a) default has been made in the payment of the principal money
or interest (or a part of it) secured by the instrument of
mortgage, notice requiring the payment of the amount that
constitutes the default has been served on the mortgagor and
the default has continued for 30 days (or any other period of
not less than one day as agreed) after the service of the
notice; or
(b) default has been made on the part of the mortgagor or of
some other person concurring in the making the mortgage in
the observance or fulfilment of a provision contained in the
instrument of mortgage or implied by this or another Act,
notice requiring the default to be remedied has been served
on the mortgagor and the default has continued for 14 days
after the service of the notice.
(2) A notice under subsection (1) is to be in the approved form.
(a) despite section 51 or any provision in a mortgage to the
contrary;
(b) to mortgages made before and after the commencement of
(c) only if the power of sale is exercised because of a default that
occurs after the commencement of this Act.
Law of Property Act 2000 57