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Powers of mortgagees of flats brought under this Act

Land Titles (Strata) Act 1967

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Where all the flats in a development have been brought under this Act pursuant to section 50, 51 or 52, which were in force immediately prior to 1 December 1987, or pursuant to section 125, 125A, 126 or 127 or the repealed section 126A and subsidiary strata certificates of title have been issued for all the flats, the mortgagee whose mortgage was registered in respect of such a flat either under the Land Titles Act 1993 or the Registration of Deeds Act 1988 prior to the issue of a subsidiary strata certificate of title for the flat, is deemed —(a)to be the donee of an irrevocable power of attorney granted by the mortgagor in respect of the mortgagor’s estate in the undivided share in the common property appurtenant to the lot comprising the mortgaged flat upon the issue of the subsidiary strata certificate of title; and(b)to have been vested with all rights and powers as if the mortgagee is the registered proprietor of the estate in the share of the common property appurtenant to the flat mortgaged by the subsidiary proprietor as and when the mortgagee exercises the mortgagee’s powers as mortgagee under the registered mortgage of the flat.

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