sec.17Devolution of mortgage estates on death

### sec.17 Devolution of mortgage estates on death An estate or interest in property vested solely in any person (not being a trustee) by way of mortgage shall upon the person’s death devolve to and vest in the public trustee until a grant of probate or letters of administration to the estate of the deceased mortgagee is made when the mortgaged property shall devolve to and vest in the person to whom the grant is made. While the property is vested in the public trustee under this section the public trustee shall have the same powers, authorities and discretions and may in every respect act, as if the public trustee were originally the mortgagee of the property. Nothing in this section shall deprive the public trustee of any power which the public trustee has or may exercise under the Public Trustee Act 1978 , section 61 . s 17 amd 1981 No. 72 s 11 (sec.17-ssec.1) An estate or interest in property vested solely in any person (not being a trustee) by way of mortgage shall upon the person’s death devolve to and vest in the public trustee until a grant of probate or letters of administration to the estate of the deceased mortgagee is made when the mortgaged property shall devolve to and vest in the person to whom the grant is made. (sec.17-ssec.2) While the property is vested in the public trustee under this section the public trustee shall have the same powers, authorities and discretions and may in every respect act, as if the public trustee were originally the mortgagee of the property. (sec.17-ssec.3) Nothing in this section shall deprive the public trustee of any power which the public trustee has or may exercise under the Public Trustee Act 1978 , section 61 .