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What Remedies does the Mortgagee have?

The law gives the Mortgagee a number of important rights and remedies in the event the Mortgagor defaults on his/her obligation. The following are some rights and remedies: -

  • The Mortgagee has the right to take possession of the mortgaged property and sell it without obtaining a court order. However, it is usual for the mortgagee to demand payment of the amounts owing;

  • The Mortgagee may seize any rent due to the mortgagor without a court receiver being appointed;

  • The Mortgagee may, like a landlord, exercise his right of distress of chattels and sale. In order words, the mortgagee may seize fixtures such as furnitures, equipment, motor vehicle of the Mortgagor and sell same;

  • The Mortgagee may sue for foreclosure in order to obtain title or ownership of the mortgaged property;

  • The Mortgagee may sue for payment on the basis of the Mortgagor’s personal covenant to pay;

  • The Mortgagee may sue for possession of the mortgaged property in order to rent or sell it;

  • The Mortgagee can demand possession of the property from the Mortgagor.

  • The Mortgagee is entitled to make peaceable entry to the property without the need of obtaining any court order.

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