(1) Subject to
subsection (2) a mortgagor entitled for the time being to the possession or
receipt of the rents and profits of any land, as to which no notice of his
intention to take possession or to enter upon the receipt of the rents and
profits thereof has been given by the mortgagee, may sue for that possession,
or for the recovery of those rents or profits, or to prevent or to recover
damages in respect of any trespass or other wrong relative thereto, in his own
name only, unless the cause of action arises upon a lease or other contract
made by him jointly with any other person.
(2) This section does
not apply to a mortgagor or a mortgage to which section 117 of the
Transfer of Land Act 1893 applies.