R.S.M. 1987, c. M200

The Mortgage Act

Back to the Act

Table of Contents

1		Application of Part I.
2		Application of Part II.
PART I
3		Definitions.
4		Mortgagee's inspection fees.
5		Mortgagee's collection costs.
	(2)	Right to certain costs preserved.
	(3)	Limitation in collection costs.
	(4)	Leased land
6		When mortgagor may require mortgagee to assign mortgage to third party.
	(2)	Encumbrancer to have same right.
	(3)	When not to apply.
	(4)	Conditions to be complied with by party demanding assignment.
	(5)	Contrary stipulation null.
7		Inspection of documents by mortgagor.
	(2)	Contrary stipulation.
8		Application of insurance money by mortgagor.
	(2)	Mortgagee may insist on money being paid to him.
	(3)	Law of Property Act applies.
9		Rights of insurer under subrogation.
	(2)	Rights of insurer under assigned mortgage.
10		Equity of redemption may be acquired without merger.
11		Rights of mortgagee or assignee acquiring the equity of redemption.
12		Foreclosure may be continued by assignee.
13		Advances for seed grain by mortgagees.
	(2)	Addition to mortgage moneys.
	(3)	Chattel mortgage on crops to secure seed advances.
	(4)	Advances of seed grain by vendors.
	(5)	Security on crops.
	(6)	Consent of prior mortgagees.
	(7)	The Dower Act not to apply.
	(8)	Application of money advanced.
	(9)	Taking possession of crops or grain.
	(10)	Penalty for misapplying seed grain.
	(11)	Definitions.
14		Remedying of default by mortgagor.
15		Right to pay off mortgage.
16		Effect of mortgagee, etc., becoming owner.
PART II
17		Mortgages, how affected by conveyances subsequently registered.
18		Purchaser of mortgage may plead purchase for value without notice.
19		Proof of payment of purchase money unnecessary.
20		Six months' notice or interest unnecessary after default.
	(2)	Payment of mortgage moneys within three months after default.
	(3)	Payment of mortgage moneys after three months after default.
	(4)	Where payment is not made as set out in notice.
	(5)	Mortgagee's right of action, etc., not affected.
	(6)	Payment of mortgage moneys under mortgage which has run five years.
	(7)	Subsec. (6) not applicable to mortgage company or to debentures.
	(8)	Payment where a higher and a lower rate.
	(9)	Application of Act.
21		Proceedings in certain mortgages declared valid.
22		Actions by mortgagors for possession of land.
23		Costs of exercising power of sale taxed in Queen's Bench.
	(2)	Fee payable.
	(3)	Tariff to be applied.
	(4)	Appeal.
	(5)	Costs of taxation.
24		Taxation of mortgagee's costs.
	(2)	Real Property Act tariff and appeals.
	(3)	No double taxation.
25		Request for statement
	(2)	Mortgagee to furnish statement of account
	(3)	Statement may be required once a year.
	(4)	Account for payoff or sale.
	(5)	Costs of obtaining statement elsewhere.
	(6)	Notice in mortgage.
	(7)	Voluntary furnishing of statement
	(8)	Application of section.
	(9)	Statement where mortgagor gives acknowledgment.