Section 35
Section 35
(1)
Subsections (2) and (3) apply where 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 has accrued.
(2)
If the person in possession of the land or personal property in question acknowledges the title of the person to whom the right of action has accrued, the right shall be treated as having accrued on and not before the date of the acknowledgment.
(3)
In the case of a foreclosure or other action by a mortgagee, if the person in possession of the land or personal property in question or the person liable for the mortgage debt makes any payment in respect of the debt
(whether of principal or interest) the right shall be treated as having accrued on and not before the date of the payment.
(4)
Where a mortgagee is by virtue of the mortgage in possession of any mortgaged land and either —
(a)
receives any sum in respect of the principal or interest of the mortgage debt; or
(b)
acknowledges the title of the mortgagor, or his equity or redemption;
Limitation 26
an action to redeem the land in his possession may be brought at any time before the expiration of 12 years from the date of the payment or acknowledgment.
(5)
Subject to subsection (6), where any right of action has accrued to recover —
(a)
any debt or other liquidated pecuniary claim; or
(b)
any claim to the personal estate of a deceased person or to any share or interest in any such estate;
and the person liable or accountable for the claim acknowledges the claim or makes any payment in respect of it the right shall be treated as having accrued on and not before the date of the acknowledgment or payment.
(6)
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.
(7)
Subject to subsection (6), a current period of limitation may be repeatedly extended under this section by further acknowledgments or payments, but a right of action, once barred by this Act, shall not be revived by any subsequent acknowledgment or payment.
Formal provisions as to acknowledgments and part payment.