Section 266
Right of chargor to tender payment at any time before sale
of National Land Code (Revised - 2020)
(1)
Any chargor against whom an order for sale has been made under this Chapter may, at any time before the conclusion of the sale, tender the amounts specified in subsection (2) to the
Registrar of the Court or, as the case may be, Land Administrator
(or, if the tender is made on the day fixed for the sale, to the officer having the direction thereof), and the order shall thereupon cease to have effect.
(2)
The amounts referred to in subsection (1) are—
(a)
the amount shown in the order as due to the chargee at the date on which the order was made;
(b)
such further amounts, if any, as have fallen due under the charge between the date of the order and the date of the tender; and
(c)
an amount sufficient to cover all expenses incurred in connection with the making, or carrying into effect, of the order.
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Act 828
(3)
Where any order for sale ceases to have effect by virtue of this section, the Registrar of the Court or, as the case may be,
Land Administrator shall give notice thereof to every chargee of the land or lease in question.
Statement of payment due 266a. (1) The chargee shall prepare a statement of all payments due in Form 16q, up to the date of the sale by public auction, as follows:
(a)
any rent payable to the State Authority;
(b)
any other outgoings payable to the State Authority;
(c)
any rate payable to the local authority; and
(d)
all expenses incurred in connection with the sale by the
Registrar of the Court or Land Administrator, as the case may be.
(2)
The chargor and the Registrar of the Court or the Land
Administrator, as the case may be, shall be notified in Form 16q of the payments due under subsection (1) on or after the date of the sale by public auction.