Commentary

13 Power to mortgage in relation to markets

MARKETS AND FAIRS vol 26(2)B
| Commentary

13 Power to mortgage in relation to markets

| Commentary

13 Power to mortgage in relation to markets

A franchise market as an incorporeal hereditament may be the subject of a mortgage as in the case of other hereditaments.

In the case of a market under a special Act1, the power to mortgage will depend on the wording of the Act. Where there is power to mortgage the undertaking or the tolls, the High Court may, subject to the terms of the statute, appoint a receiver of the rents and profits or tolls at the instance of the mortgagee2. However, the court will not appoint a manager of the undertaking

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