No arrears of rent or
of interest in respect of any sum of money charged upon or payable out of any
land or rent, or in respect of any legacy, or any damages in respect of such
arrears of rent or interest, shall be recovered by any distress, action or
suit, but within 6 years next after the same respectively have become due, or
next after an acknowledgment of the same in writing has been given to the
person entitled thereto, or his agent, signed by the person by whom the same
was payable, or his agent:
Provided nevertheless
that where any prior mortgagee or other incumbrancer has been in possession of
any land, or in receipt of the profits thereof, within one year next before an
action or suit shall be brought by any person entitled to a subsequent
mortgage or other incumbrance on the same land, the person entitled to such
subsequent mortgage or incumbrance may recover in such action or suit the
arrears of interest which shall have become due during the whole time that
such prior mortgagee or incumbrancer was in such possession or receipt as
aforesaid, although such time may have exceeded the said term of 6 years.
Provided also, that
this section is subject to section 38(1)(d) and (e).