The following Property Q&A Produced in partnership with Helen Galley of XXIV Old Buildings provides comprehensive and up to date legal information covering:
We are not told what the mortgaged property is but it is assumed that it is real property, ie land.
There is no implied power of sale in favour of a mortgagee, but that does not mean that a mortgagee cannot sell the mortgaged property without seeking a court order to that effect. There may be an express right to sell contained in the mortgage deed or alternatively the mortgagee might rely on the statutory power of sale.
The statutory power of sale is now contained in sections 101 and 103 of the Law of Property Act 1925 (LPA 1925). The statutory power may be extended or varied by the express terms of the mortgage deed. See The Maule. See Practice Note: Mortgagee’s power of sale.
The statutory power contained in LPA 1925, s 101 provides that where a mortgage is made by deed, as will be the case in all legal mortgages, and the mortgage money has become due, the mortgagee has a statutory pow
**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 thousands of others like it, sign-in to LexisPSL or register for a free trial.
Existing user? Sign-in
Take a free trial
When defendants are guilty, they have a choice to plead guilty or to put the prosecution to proof. When they plead guilty they may benefit from a reduction in their sentence as a result, see Practice Note: Credit for guilty plea. However, the Sentencing Council's overarching guidelines on reduction
When is quantum meruit and quantum valebat relevant?Claims in quantum meruit (value of services) and quantum valebat (value of goods) arise in diverse situations ranging from where contractual terms are silent on issues of payment to where there is no contract at all (Serck v Drake & Scull).General
What is recklessness?In respect of some statutory offences and common law crimes the prosecution are required to prove a mental element of recklessness on the part of the defendant.Recklessness means unjustified risk taking on the part of the accused.Prior to the House of Lords decision in Re G
Background to the Single RulebookHistorically, the European Commission (Commission) favours using Directives (rather than Regulations) to set out its legislation in respect of the financial services sector. However, Directives, allowing Member States greater flexibility in how they implement
0330 161 1234
To view our latest legal guidance content,sign-in to Lexis®PSL or register for a free trial.