MORTGAGE RELIEF
AGREEMENTS FOR PURCHASE. Wellington, March 7. An amendment to the Mortgagors Relief Act is make by a clause in the Finance Bill (No. 4). Mr. Coates said that the Act of 1931 gave relief to mortgagors only in respect of mortgages executed before April 17, 1931. Mortgages included agreements for sale and purchase. Tho effect of the existing’legislation, therefore, wns that if money had been lent before that date and the interest commenced to run before that date bn*, the formal deed of mortgage was dated a single day after April 17, a mortgagor could not obtain relief. The present clause was designed to give the protection of the Mortgagors Relief Act to mortgagors and purchasers ’ in such eases.
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Hawke's Bay Tribune, Volume XXIII, Issue 73, 8 March 1933, Page 8
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121MORTGAGE RELIEF Hawke's Bay Tribune, Volume XXIII, Issue 73, 8 March 1933, Page 8
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