177. Mortgage of commonhold land.

177.     Mortgage of commonhold land.

The unit-holder of a commonhold unit1 has owner's powers2 to charge the whole interest in the unit; a charge cannot be created over part only of an interest in such a unit3 and an instrument or agreement is of no effect to the extent that it purports to create such a charge4.

A legal mortgage5 can be created over the common parts of a commonhold6 if the creation of the mortgage is approved by a resolution of the commonhold association7 passed unanimously8 before it