Real Property Mortgage Act 1987. Country/Territory Marshall Islands Document type Legislation Date 1987 (2005) Source FAO, FAOLEX Subject Land & soil Keyword Land tenure Legal proceedings/administrative proceedings Geographical area Micronesia, Oceania, South Pacific Abstract The Act makes provisions with respect to: establishment of mortgages on leasehold interest, requirements for mortgages, registration of mortgages, procedure for registration, priority of mortgage interests, effect of non-registration, foreclosure of mortgages, judicial foreclosure of mortgages, power of sale foreclosure, sale under power of sale, right to deficiency subsequent to foreclosure sale, discharge, re-conveyance and satisfaction, prohibition of impairment of security, appointment of receiver, and registration of assignments. (17 sections) Full text English Website www.paclii.org References - Legislation Repealed by Real Property Mortgage Act 2003. Legislation | Marshall Islands | 2003 (2006) Keyword: Land tenure, Legal proceedings/administrative proceedings Source: FAO, FAOLEX