PART IVEXTENSION AND EXCLUSION OF TIME LIMITS
Acknowledgment
Acknowledgment: effect on persons other than maker or recipient60
1
An acknowledgment of title to any land by any person in possession thereof binds all other persons in possession during the ensuing limitation period.
2
Where—
a
two or more mortgagees of land are by virtue of the mortgage in possession of the land; and
b
one only of the mortgagees (in this Article referred to as “the acknowledgor”) gives an acknowledgment of the mortgagor’s title or of his equity of redemption,
the following provisions have effect—
i
the acknowledgment binds only the acknowledgor and his successors and does not bind any other mortgagee or his successors;
ii
if the acknowledgor is entitled to a part of the mortgaged land and not to any ascertained part of the mortgage debt, the mortgagor is entitled to redeem that part of the land on payment, with interest, of the part of the mortgage debt which bears the same proportion to the whole of the debt as the value of that part of the land bears to the value of the whole of the mortgaged land.
3
Where—
a
there are two or more mortgagors of land, and
b
the title or equity of redemption of one of the mortgagors is acknowledged,
the acknowledgment is to be treated as having been made to all the mortgagors.
4
An acknowledgment of a debt binds the acknowledgor and his successors, but not any other person.
5
An acknowledgment by one of several personal representatives of any claim to the personal estate of a deceased person or to any share or interest therein binds the estate of the deceased person.