Mortgages Act, 1972 N.R.C.D. 96
Section 7:
(1) Unless a contrary intention appears expressly or by necessary implication, a mortgage made to two or more mortgagees or transferred to two or more transferees or securing performance to two or more obligees is, for the purposes of this Act, as against the mortgagor or obligor or a person deriving an interest through the mortgagor or obligor and without prejudice to the rights of the mortgagees, transferees or obligees among themselves, made to the mortgagees or transferred to the transferees or secured to the obligees as joint holders with the right of survivorship.
(2) Subsection (1) applies despite a notice to the mortgagor or obligor or person deriving an interest through either or both of them of a severance of the joint holding after the mortgage.
Procedure to Follow
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Responsible Institution
28th February Road, Finance Drv, Accra
- Email: info@mofep.gov.gh
- Website: www.mofep.gov.gh
- GPS: GA-144-2024
- Telephone: +233 302 747 197
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