MORTGAGES' ACT.

Press, Volume LXI, Issue 18397, 2 June 1925, Page 8

MORTGAGES' ACT.

AUCKLAND, COURT SITnN| FEW CASES WITH NO f -EXTENSIONS.' '/J /. , >~m i \ •HTij (FSESS ASSOCIATION TTOOyM.) ■'*s: AUCKLAND, | The sittings of the Supremo Cw| which Mr Justice Hosking holding in Auckland for th® weeks to deal with applwatlMW T|Mpjj the Mortgages Final Extension Arts last year, will conclude to-morrofl!»tj|j his Honour will then leave for Gis£ngj to hear the applications filfd tnro So far. his Honour has he}d : in Wellington, Palmerston North,: 1| nganui, New Plymouth, Auckland. Many of tho have been withdrawn, 'tho ing arrived at agreement® bewWS selves. Many others nave heard and adjourned to a siting of the Court to take placejgjg three months after the orjgiaal iffill This has been done to enable' to endeavour to arrange priTWW lines suggested by the l&urtt of ip ed by themselves, or to cants to pay up arreara of effect repairs, to cut noxious ** or to make good some otbardafwH a preliminary to any extension. ISo far only a few coses of firstfoß gages have come before the majority of the application mjsjra second • and, subsequent mfirtfflwj down to a sixth mortgage in fiiM stance, and these~cases are gtocated by the mortgagees Mr Justice flocking sUtfd-M generally speaking, mortgage*! vendors had shown a most oonrtttM attitude and were prepared to wffl in some extension on reasonable Umß Opposition took place where tfe-yjfl ity was considered deficient, pcrty • had been neglected or BQjifff perly farmed, or where interestjrt® arrear or rates unpaid, or wn®Ssl mortgagee or the purchaser wise failed in his obligations, arjfgi an extension woula inflict upon the mortgagee. Extension was not always lw ra term. Tho length of it oepcna«|l various'* considerations. H. necessary, in order to do raise the rate of interest, where a mortgagee waa]fw?Sg higher rate on money borrowed self than be was getting ftW| mortgagor. So far toe cases extension had been granted wffly'fffi His Honour also stated jw'ii all the applications yet dealb related to country land. In * «~Wa of cases the mortgagee rspwgß! balances of purchase money uuihm ing upon Bales. '.