Tuesday, July 19, 2011

Rights of Chargee

  • He has the right to force a sale on the land under charge to recover the monies due to him ( only by court order ) , or in the event of a breach agreement by the charger . 
  • He may take possession of the land under charge when the chargor is in breach of agreements . 
  • He may transfer the charge to a new chargee
  • He has the right to keep the issue document of title or the duplicate lease . 
  • He has the right to tack .i.e. further advances by the chargee to the chargor may be tacked on to and secured by a charge registered by the chargor in favour of the chargee .

No comments:

Post a Comment