### Conveyancing and Property Ordinance 《物業轉易及財產條例》

45. Tacking
(1) A mortgagee under prior mortgage may make a further advance or re-advance to rank in the same priority over a subsequent mortgage as the original advance under that prior mortgage—
(a) if the subsequent mortgagee so consents; or
(b) where the further advance or re-advance does not exceed, with any other outstanding advance or re-advance, the specified maximum amount secured under that prior mortgage; or
(c) where that prior mortgage is in favour of an authorized institution (as defined in the Banking Ordinance (Cap. 155)) and is expressed to secure all money which may, from time to time, be owing to the prior mortgagee, (Amended 27 of 1986 s. 137)
and paragraphs (b) and (c) shall have effect whether or not the prior mortgagee had notice of the subsequent mortgage at the time when the further advance or re-advance was made by the prior mortgagee.
(2) The priority to which a prior mortgagee is entitled under subsection (1) shall extend, in addition to the amount secured under the prior mortgage, to interest on that amount and to all costs, charges and expenses secured under the mortgage.
(3) Subject to subsection (1), the right to tack in relation to land is abrogated: (Amended 31 of 1988 s. 16)
Provided that nothing in this section shall affect any priority acquired before the commencement* of this section. Editorial Note:
* Commencement date: 1 November 1984.

46. Conversion of equitable mortgage
(1) Where an equitable interest becomes a legal estate under section 14, any equitable mortgage by deed over that equitable interest shall become a legal charge over that legal estate in the same terms, subject to this Ordinance, as are contained in that deed.
(2) This section applies to equitable mortgages by deed executed before or after the commencement of this section.

47. Inspection of title deeds
(1) A mortgagor and a mortgagee not having possession of the deeds of title relating to the mortgaged land, for so long as they have an interest in that land, shall be entitled at any reasonable times to inspect and make copies of those deeds in the possession of a mortgagee.
(2) This section applies to a mortgage made before or after the commencement of this section and notwithstanding any agreement to the contrary.

### Conveyancing and Property Ordinance 《物業轉易及財產條例》

48. Mortgage to 2 or more jointly
Where any mortgage effected after the commencement* of this section is expressed to be made to 2 or more persons jointly, the mortgage money shall (if and so far as the contrary intention is not expressed in the mortgage), as between them and the mortgagor, be deemed to be owing to these persons on a joint account and the receipt of the survivors or the last survivor of them or of the successor or personal representative of the last survivor shall be a complete discharge.

Editorial Note:
* Commencement date: 1 November 1984.

49. Action for possession of land by mortgagor
(1) A mortgagor under any mortgage (whether effected before or after the commencement of this section) entitled for the time being to the possession or receipt of the rents or profits of any land in respect of which no notice has been given by the mortgagee of his intention to take possession or to enter into the receipt of the rents and profits of that land may sue for such possession, or for the recovery of the rents and profits, or to prevent or recover damages in respect of any trespass or other wrong relating to that land, 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 affect the power of the mortgagor, apart from this section, in right of the legal estate or otherwise, to take proceedings in his own name.
[cf. 1925 c. 20 s. 98(1) U.K.]

### Conveyancing and Property Ordinance 《物業轉易及財產條例》

50. Power to appoint a receiver
(1) There shall be implied in any legal charge or equitable mortgage by deed, where the mortgage money has become due, a power exercisable in writing by the mortgagee and any person entitled to give a receipt for the mortgage money on its repayment to appoint a receiver or receivers of the mortgaged land and the income thereof, to remove any receiver appointed and appoint another in his place.
(2) Any receiver so appointed will be deemed the agent of the mortgagor and the mortgagor will be solely responsible for the receiver’s acts and defaults.
(3) Any receiver so appointed may act in his own name or the name of the mortgagor.
(4) Where 2 or more receivers are appointed, the appointment shall be deemed to be a joint and several appointment.
(5) The mortgagee may, from time to time, fix the remuneration of the receiver and the receiver shall be entitled to retain out of any money received by him that remuneration and all costs, charges and expenses properly incurred by him as a receiver.
(6) Without prejudice to the powers mentioned in the Fourth Schedule, the receiver shall have power to demand and recover all the land of which he is appointed receiver and the income thereof, by action, distress, or otherwise, in the name either of the mortgagor or of the mortgagee, to the full extent of the estate or interest which the mortgagor could dispose of, and to give effectual receipts accordingly for the same. (Amended 31 of 1988 s. 17)
(7) A person paying money to the receiver shall not be concerned to inquire whether any event has happened to authorize the receiver to act.
(8) The provisions of this section are subject to contrary intention expressed in the mortgage deed and may be varied or extended by the mortgage deed, and, as so varied or extended, shall have effect as if contained in this Ordinance.
(9) This section shall not apply to any mortgage executed before the commencement* of this section.

Editorial Note:
* Commencement date: 1 November 1984.