Real Property Mortgage Act 2003. Country/Territory Marshall Islands Document type Legislation Date 2003 (2006) Source FAO, FAOLEX Long titleAn 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 Land based credit Legal proceedings/administrative proceedings Geographical area Oceania 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 vario Full text English Website www.paclii.org References - Legislation Repeals Real Property Mortgage Act 1987. Legislation | Marshall Islands | 1987 (2005) | Repealed Keyword: Land tenure, Land based credit, Legal proceedings/administrative proceedings Source: FAO, FAOLEX