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Real Property Mortgage Act 2003.

Country/Territory
Marshall Islands
Document type
Legislation
Date
2003 (2006)
Source
FAO, FAOLEX
Original source
Marshall Islands Consolidated Legislation.
Long title
An Act to provide for the mortgaging of freehold and leasehold interests in land and to provide for the registration of mortgages with the Land Registration Authority. This Act repeals and replaces the Real Property Mortgage Act, 1987.
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, status of security, 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, foreign citizens as mortgagor, discharge of stale mortgage and various other matters relating to mortgages on real property and related rights and obligations (41 sections).

Full text
English
Website
www.paclii.org

References - Legislation

Repeals

Real Property Mortgage Act 1987.

Legislation | Marshall Islands | 1987 (2005)

Keyword: Land tenure, Legal proceedings/administrative proceedings

Source: FAO, FAOLEX