A declaration1 by the mortgagor that he holds the property on trust for the mortgagee enables the mortgagee on exercising the power of sale2 to vest the legal estate in the mortgaged property in himself or a purchaser3. The power of appointment of new trustees4 should be exercisable by the mortgagee and give the mortgagee and those deriving title under him power to remove the mortgagor from the trusteeship and to appoint himself or themselves or any of them as new trustees. On an appointment of new
**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