109 Deposit of mortgage money on refusal to accept.E+W+N.I.
If, in either of the cases aforesaid, upon such payment or tender any mortgagee shall fail to convey or release his interest in such mortgage as directed by the promoters of the undertaking, or if he fail to adduce a good title thereto to their satisfaction, then it shall be lawful for the promoters of the undertaking [F1to pay into the [F2Senior Courts]] the principal and interest, together with the costs, if any, due on such mortgage, and also, if such payment be made before the expiration of six months notice as aforesaid, such further interest as would at that time become due; and it shall be lawful for them, if they think fit, to execute a deed poll, duly stamped, in the manner herein-before provided in the case of the purchase of lands by them; and thereupon, as well as upon such conveyance by the mortgagee, if any such be made, all the estate and interest of such mortgagee, and of all persons in trust for him, or for whom he may be a trustee, in such lands, shall vest in the promoters of the undertaking, and they shall be entitled to immediate possession thereof in case such mortgagee were himself entitled to such possession.
Textual Amendments
F1Words substituted by Administration of Justice Act 1965 (c. 2), S. 17, Sch. 1
F2Words in Act (except s. 3) substituted (1.10.2009) by Constitutional Reform Act 2005 (c. 4), s. 148(1), Sch. 11 para. 9(2); S.I. 2009/1604, art. 2(d)
Modifications etc. (not altering text)
C1Ss. 99, 100, 107, 109, 111, 113, 117 modified by Judicature (Northern Ireland) Act 1978 (c. 23, SIF 38), s. 122(1), Sch. 5 Pt. II (as amended (1.10.2009) by Constitutional Reform Act 2005 (c. 4), s. 148(1), Sch. 11 para. 6; S.I. 2009/1604, art. 2(d))