Mortgagor’s right to accounts
13B Mortgagor’s right to accounts
Any mortgagee shall, on request in writing made by the mortgagor and on tender of a sum of two dollars ten cents for the expenses of preparing the account, give to such mortgagor in writing a full and itemised account as between the mortgagor and the mortgagee in respect of the mortgage. Such account shall be verified by statutory declaration and show the total balance claimed to be outstanding in respect of the mortgage.
The court may, on the application of the person who requested the account—
order the person who made the statutory declaration to attend before the court for cross-examination thereon,
order the mortgagee to give a further and more detailed account.
If such mortgagee without reasonable cause, proof whereof shall lie upon him, neglects or refuses within twenty-one days of receipt of such request and of such tender to give such account he shall be guilty of an offence against this Act and shall be liable upon summary conviction to a penalty not exceeding two hundred dollars.
Where a mortgagee is convicted of an offence under subsection two of this section, interest on the mortgage debt shall not accrue in respect of the period commencing on the expiration of twenty-one days after the receipt of such request and terminating upon the date the account is given.
No conviction under subsection two of this section shall affect any remedy to which a mortgagor may be entitled at law or in equity under this Act or otherwise against the mortgagee.
Where an account has been given pursuant to the provisions of this section, the mortgagor may cause a copy thereof to be filed in the office of the Master in Equity, and upon such copy being filed the Master shall fix an appointment for the taking thereof. Upon proof of service of notice of such appointment upon the mortgagee the Master shall proceed, at the time fixed by the appointment, to take such account, and shall certify the respective items and amounts allowed. Any such certificate, as between the mortgagor and the mortgagee, shall be final and conclusive as to the amount of the mortgagor’s indebtedness under the mortgage—
Provided that where the amount of total indebtedness so certified by the Master exceeds six thousand dollars, an appeal shall lie to the Supreme Court.
Where the amount of total indebtedness so certified is less than ninety-eight per centum of the amount of the total balance claimed to be outstanding by the mortgagee in his statement of account, the costs of all proceedings under subsection five of this section shall be paid by the mortgagee, and the mortgagee shall not be entitled to recover any such costs from the mortgagor or to add the amount thereof to the mortgage debt, notwithstanding any law or anything contained in any covenant or agreement in the mortgage to the contrary.
In this section mortgagor means the person entitled to the equity of redemption in the mortgaged land or if the land comprised in the mortgage is under the provisions of the Real Property Act 1900, has the same meaning as in that Act.
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