Victorian Current Acts

LIMITATION OF ACTIONS ACT 1958 - SECT 24

    (1)     Where there has accrued any right of action (including a foreclosure action) to recover land or any right of a mortgagee of personal property to bring a foreclosure action in respect of the property, and—

        (a)     the person in possession of the land or personal property acknowledges the title of the person to whom the right of action has accrued; or

        (b)     in the case of a foreclosure or other action by a mortgagee, the person in possession as aforesaid or the person liable for the mortgage debt makes any payment in respect thereof, whether of principal or interest—

the right shall be deemed to have accrued on and not before the date of the acknowledgment or payment.

    (2)     Where a mortgagee—

        (a)     is by virtue of the mortgage in possession of any mortgaged land; and

        (b)     either receives any sum in respect of the principal or interest of the mortgage debt or acknowledges the title of the mortgagor or his equity of redemption or right to discharge of the mortgage—

an action to redeem or to compel discharge of the mortgage of the land in his possession may be brought at any time before the expiration of fifteen years from the date of the payment or acknowledgment.

    (3)     Where—

        (a)     any right of action has accrued to recover any debt or other liquidated pecuniary claim or any claim to the personal estate of a deceased person or to any share or interest therein; and

        (b)     the person liable or accountable therefor acknowledges the claim or makes any payment in respect thereof—

the right shall be deemed to have accrued on and not before the date of the acknowledgment or the last payment:

Provided that a payment of a part of the rent or interest due at any time shall not extend the period for claiming the remainder then due, but any payment of interest shall be treated as a payment in respect of the principal debt.

No. 5914 s. 25.