31 [Trust] of mortgaged property where right of redemption is barred
Law of Property Act 1925 (1925 c 20) | Legislation

31  [Trust] of mortgaged property where right of redemption is barred

(1)     Where any property, vested in trustees by way of security, becomes, by virtue of the statutes of limitation, or of an order for foreclosure or otherwise, discharged from the right of redemption, it shall be held by them [in trust—

(a)     to apply the income from the property in the same manner as interest paid on the

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