MORTGAGEES OF REAL ESTATE.

Ashburton Guardian, Volume VII, Issue 1856, 13 June 1888, Page 3

MORTGAGEES OF REAL ESTATE.

In the Honae of Representatives on May 29th :— Major Steward asked the Government whether their attantlon had been drawn to the Injustice of the provisions of sections 96 and 97 of " The Land Transfer Act, 1885," which confor upon mortgagees of real estate t'io rl^ht to distrain upon goods and chattels ; nod, If bo, whether they will introduce a BUI this £63aion to amend the said Act In this particular? At the time that the Land Transfer Act was paaslDg through the House several olauaoa were introduced Into It to which be thought Insufficient attention was given by the House. They introduced quite a novel feature. For example, there were clauses 96 and 97, under whloh mortgagees, m default of payment, not only had power to enter into possession of the land mortgaged, bat could also Bell the goods and chattels of the porsons giving the mortgage. There was a very general fooling that this w»h a power which ought not to be given, and he would like to hear from the Minister that it was his Intention to Introduce a BUI amending the Act la this respeot. Mr Hlslop was afraid the honorable gentleman had not givep sufficient attention to the Governor's Speech m opening Parliament, as he would have Been that the Government Intended to bring m a Bill dealing with the eubjoct generally. Mr Steward was not aware that It would amend the Act m this particular direction.