Requirement for mortgage Section 4—Mortgage to be evidenced in writing (1) A mortgage is not enforceable unless it is evidenced in writing and ...

Section 5—Disclosure (1) A financial institution shall, at least fourteen days before the disbursement of a loan to the mortgagor, disclose all rele ...

Section 6—Use of loan (1) A person who obtains a loan under this Act shall not use the whole or part of the loan for a purpose other than the purpos ...

Section 7—Stamping and registration (1) A person who obtains a loan under this Act shall stamp and register the title deeds and mortgage deeds relat ...

Section 8—Insurance (1) A mortgagor or mortgagee shall insure a mortgaged property against loss or damage by theft, fire, earthquake or other natura ...

Section 10—Transfer of interest or creation of further charges.(1) A mortgagor shall not (a) transfer an interest, or (b) create further charge ...

Section 11—Default in payment (1) Where a mortgagor fails to make an instalment payment within fourteen days after the due date for the payment, the ...

Section 12—Mortgagee's remedies on default Where a mortgagor fails to perform an act secured by the mortgage, the mortgagee may (a) sue the mor ...

Section 13—Mortgagee's right to possession (1) Where a mortgagor fails to perform an act secured by the mortgage, the mortgagee is entitled to posse ...

Section 14—Appointment of receiver on default (1) Where a mortgagor fails to perform an act secured by a mortgage, the mortgagee may appoint a recei ...

Section 15—Duties of a receiver (1) The receiver may take possession of the mortgaged property in the manner specified in this Act. (2) The rec ...

Section 18—Valuation of mortgaged property (1) Where a mortgagee intends to sell a mortgaged property, the mortgagor and mortgagee shall cause the p ...

Section 19—Reserved price of mortgaged property (1) A mortgagee shall not sell a mortgaged property for less than eighty-five per cent of the apprai ...

Section 20—Sale of mortgaged property on default (1) Where a mortgagor fails to carry on an act or acts secured by the mortgage, the mortgagee may s ...

Section 21—Purchaser's interest in the sale of mortgaged property (1) A mortgagee at whose instance sale is made shall not purchase the mortgaged pr ...