Australian Capital Territory Current Acts Australian Capital Territory Current ActsAn action on a cause of action to redeem mortgaged property in the possession of a mortgagee is not maintainable against that mortgagee if brought after the end of a limitation period of 12 years running from the only or later of such of the following dates as is or are applicable:
(a) the date when that mortgagee or a person through whom he or she claims last goes into possession of the property in relation to which the action is brought;
(b) the date when that mortgagee or a person through whom he or she claims last receives a payment of principal money or interest secured by the mortgage from the plaintiff or from a person through whom he or she claims.