Property of scheduled debtor to be freed from mortgaged, etc

Finance197610 sections

Statutory text

(1) All property belonging to a scheduled debtor which was, immediately before the commencement of this Act under any mortgage, charge, lien or other incumbrances in connection with any debt owed by a scheduled debtor shall, in so far as it is relatable to such debt, stand freed and discharged from such mortgage, charge, lien or other in cumbrances and where any such property was, immediately before the commencement of this act, in the possession of the mortgages or the holder of the charge, lien or incumbrance, such property shall except where it was subject to any other charge, on such commencement, be restored to the possession of the scheduled debtor. (2) If any delay is made in restoring any property, referred to in sub-section (1), to the possession of the scheduled debtor, such debtor shall be entitled, on and from the date of such commencement, to recover from the mortgage or holder of the lien, charge or encumbrance, such mesne profits as may be determined by the civil court within the local limits of whose jurisdiction such property is situated.

Study data processing for this section.

PDF: pending for this language.