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Target Home Loans v Clothier [1994]

Facts

  • A mortgagor defaulted on payments of a £225,000 loan secured against their land
  • The arrears amounted to £64,579
  • The mortgagee wished to take possession and the mortgagor wished to sell on the basis of a £450,000 offer received

Issue

  • Could the mortgagor have possession postponed for 3 months under section 36 of the Administration of Justice Act 1970 to allow the sale to complete?

Decision

  • Yes

Reasoning

  • Although the was no evidence that the mortgagor would be able to pay the mortgage loan arrears, the prospects of an early sale were best served by postponing possession
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