95Mortgagee's receipts discharges etc.

95 Mortgagee's receipts discharges etc. (1) The written receipt of a mortgagee is sufficient discharge for: (a) any money realised under the exercise of the power of sale conferred by this Act; or (b) any money or securities secured by the mortgagee's mortgage,

Law of Property Act 2000 62 and a person paying or transferring the money or securities to the mortgagee is not to be concerned to inquire whether any money remains due under the mortgage or to see to the application of the money or securities paid or transferred. (2) Money received by a mortgagee under a mortgage or from the proceeds of securities comprised in the mortgage are to be applied in the like manner as if it was money received by the mortgagee arising from a sale under the power of sale conferred by this Act except that the costs, charges and expenses payable are to be the costs, charges and expenses properly incurred in recovering and receiving the money or securities and in converting securities into money instead of those incurred as incident to sale.