INTEREST ON MORTGAGES
QUESTION OF LIABILITY. Bv Prpan Association. Te Awamutu, October 20. An Interesting law poi.nt was decided by Mr. Young, S.M., to-day. A plaintiff before him had received a mortgage in part payment for a farm which was twice subsequently sold, the mortgage passing to the defendant in the case. The claim was for interest in respect of this mortgage. Counsel for the defence argued that there was .priority of contract between the plaintiff and tliis defendant, .plaintiff arguing that the mortgage would pass to the executors or assignee of the first mortgagor. Ihe Magistrate held that in the absence of a special covenant on the present mortgagor to pay there was nothing in the Land Transfer or Property T.aw Acts implying liability to pay. The mortgagee under these Acts must sue the person ■who mortgaged to him. Plaintiff vas nonsuited.
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Dominion, Volume 15, Issue 23, 21 October 1921, Page 5
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143INTEREST ON MORTGAGES Dominion, Volume 15, Issue 23, 21 October 1921, Page 5
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