REMEDY OF ANOMALY
MORTGAGORS’ RELIEF ACT PROTECTION TO BE EXTENDED (Per Press Association) WELLINGTON, This Day. An amendment to the Mortgagors Relief Act is made by another clause. Mr Coates said that the Act of 1931 gave relief to mortgagors only in rhspcct of mortgages executed before April 17, 1931. Mortgages included agreements for sale and purchase. The effect, of the existing legislation, therefore, was that if money had been lent before that date and the interest commenced to run before that date but 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 'and pu'rchaiscrs in such cases. Wider powers in the investment of moneys by the Public Trustee, acting on behalf of infants or persons of unsound mind, are concerned.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/WPRESS19330308.2.12
Bibliographic details
Waipukurau Press, Volume XXVIII, Issue 63, 8 March 1933, Page 3
Word Count
146REMEDY OF ANOMALY Waipukurau Press, Volume XXVIII, Issue 63, 8 March 1933, Page 3
Using This Item
NZME is the copyright owner for the Waipukurau Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of NZME. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in