23Redemption

23 Redemption An action on a cause of action to redeem mortgaged property in the possession of a mortgagee is not maintainable against that mortgagee if brought after the end of a limitation period of 12 years running from the only or later of such of the following dates as is or are applicable: (a) the date when that mortgagee or a person through whom he or she claims last goes into possession of the property in relation to which the action is brought; Part 2 Periods of limitation and related matters Division 2.3 Mortgages Section 24 page 18 Limitation Act 1985 Effective: 26/11/25 R28 26/11/25 Authorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au (b) the date when that mortgagee or a person through whom he or she claims last receives a payment of principal money or interest secured by the mortgage from the plaintiff or from a person through whom he or she claims.