RELIEF OF MORTGAGORS.
FUNCTIONS OF THE COURT. Per Press Association. WELLINGTON, July 2. In the House of Representatives today, replying to Mr T. D. Burnett, the Prime Minister said the Mortgagors’ Relief Act did not stipulate that the mortgagor must prove that within six to twelve months his financial position would have improved. The likelihood of an improvement in the financial position was only one of six factors which tire Court was directed to take into consideration and in this respect there was no specified time mentioned. There was nothing in the Act to prevent the Court granting relief in proper cases and no amendment was considered necessary. He was confident the Court would not refuse relief unless it was satisfied the mortgagor’s position was so hopeless apart from the present depression that he clearly had no equity to protect and could not possibly carry on in any case.
Mr Burnett : You are going to lose a very high class of settler.
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Manawatu Standard, Volume LI, Issue 181, 3 July 1931, Page 9
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162RELIEF OF MORTGAGORS. Manawatu Standard, Volume LI, Issue 181, 3 July 1931, Page 9
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