Mortgages Act, 1972 N.R.C.D. 96
Section 12:
(1) Unless a contrary intention appears expressly or by necessary implication, a mortgagor may transfer all or a part of the mortgagor’s interest in the mortgaged property without the concurrence of the mortgagee.
(2) The transfer of all or a part of the mortgagor’s interest in the mortgaged property does not relieve the mortgagor of personal liability on a covenant in the mortgage.
(3) In a transfer of a mortgage from a mortgagor for valuable consideration, unless a contrary intention appears expressly or by necessary implication, the transferee shall be deemed to have covenanted to indemnify the mortgagor’s personal liability on a covenant in the mortgage.
(4) Unless a contrary intention appears expressly or by necessary implication, it is implied that the mortgagor covenants to give notice to the mortgagee of a transfer of all or a part of the mortgagor’s interest in the mortgaged property by the mortgagor subsequent to the mortgage; but despite a provision
to the contrary, failure to give the notice does not invalidate the transfer.
(5) In this section, a transfer includes a sale, lease, encumbrance or any other disposition.
Procedure to Follow
Not Avaiable
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
Relevant Forms to Download
Not Available
Online System
Link Unavailable
Fees/ charges
Not Avaiable
Loading. Please wait....