Property Law Act 1969

The power of sale conferred by this Part may be exercised by any person for the time being entitled to receive and give a discharge for the mortgage money.

The power of sale conferred by this Part does not affect the right of foreclosure.

The mortgagee is not answerable for any involuntary loss happening in or about the exercise or execution of the power of sale conferred by this Part, or of any trust connected therewith, or of any power or provision contained in the mortgage deed.

At any time after the power of sale conferred by this Part has become exercisable, the person entitled to exercise the power may demand and recover from any person, other than a person having in the mortgaged property an estate, interest or right in priority to the mortgage, all the deeds and documents relating to the property, or to the title thereto, that a purchaser under the power of sale would be entitled to demand and recover from him.

The receipt in writing of a mortgagee is a sufficient discharge for any money arising under the power of sale conferred by this Part, or for any money or securities comprised in his mortgage, or arising thereunder; and a person paying or transferring the money or securities to the mortgagee shall not be concerned to inquire whether any money remains due under the mortgage or as to the application of the money or securities so paid or transferred.

Money received by a mortgagee under his mortgage or from the proceeds of securities comprised in his mortgage shall be applied in like manner as in this Part directed respecting money received by him arising from a sale under the power of sale conferred by this Part, except that the costs, charges and expenses payable shall include the costs, charges and expenses properly incurred of recovering and receiving the money or securities, and of conversion of securities into money, instead of those incident to sale.