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§ 15-1505 Real Estate Subject to Senior Liens

Article XV: Mortgage Foreclosure

Part 15: Judicial Foreclosure Procedure

During a foreclosure, and any time prior to sale, a mortgagee or any other lienor may pay (i) when due installments of principal, interest or other obligations in accordance with the terms of any senior mortgage, (ii) when due installments of real estate taxes or (iii) any other obligation authorized by the mortgage instrument. With court approval, a mortgagee or any other lienor may pay any other amounts in connection with other liens, encumbrances or interests reasonably necessary to preserve the status of title.

Amendment history: (from Ch. 110, par. 15-1505) (Source: P.A. 84-1462.)