Section 274
Position of chargee in possession
of National Land Code (Revised - 2020)
ActIn forceProvision 266 of 391
Section 274
(1)
A chargee in possession of any land by occupation shall be entitled to manage the land and take all the profits thereof, but shall be liable to the chargor for any act whereby the capital value of the land is impaired or the chargor is otherwise put to any loss.
(2)
Every chargee in possession, whether by occupation or by receipt of rent, shall be accountable to the chargor not only for all sums actually received by him, but also for any additional sums which he might reasonably have been expected to receive by the prudent exercise of his powers.
290
Act 828