Section 273
Duration of right to possession
of National Land Code (Revised - 2020)
(1)
A chargee who has entered into possession of any land pursuant to section 271 may, without prejudice to his right to relinquish possession at any earlier time, remain in possession so long as the land continues subject to any liability under the charge.
(2)
A chargee in possession of any land by occupation may remain in possession either by continuing in occupation or by exercising his power under section 275 to lease the land and receive the rent payable under the lease.
(3)
A chargee in possession of any land by receipt of rent may, on the determination of the lease or tenancy under which the rent is payable, remain in possession either by receiving the rent payable under a new lease granted by him pursuant to section 275, or by going into occupation, or partly in one way and partly in the other.
Effects of Taking Possession