Where mortgages over distinct properties have been granted by the same mortgagor, the right of consolidation1 may be exercised by the person in whom the mortgages are united, whether he is the original mortgagee, or whether the mortgages or one of them have come to him by assignment or devolution2. It is immaterial whether he holds on his own account or as trustee3. Although he may consolidate notwithstanding that such union has taken place after the mortgagor's bankruptcy4, he cannot, to the prejudice of other creditors, consolidate, with a prior security held by him, a security for an advance
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and millions of others like it, sign-in to LexisLibrary or register for a free trial.
EXISTING USER? SIGN IN
TAKE A FREE TRIAL
0330 161 1234