15-1-19 - Limitations applicable to suits to redeem mortgage or deed of trust. - Mississippi Statutes

§ 15-1-19. Limitations applicable to suits to redeem mortgage or deed of trust.
 

When a mortgagee, after condition broken, shall obtain the actual possession or receipt of the profits or rent of land embraced in his mortgage, the mortgagor, or any person claiming through him, may not bring a suit to redeem the mortgage except within ten years next after the time at which the mortgagee obtained such possession or receipt, unless in the meantime an acknowledgment of the title of the mortgagor, or of his right of redemption, shall have been given in writing, signed by the mortgagee, or the person claiming through him. In such case a suit may not be brought except within ten years next after the time at which such acknowledgment, or the last of such acknowledgments, if more than one, was given. Such acknowledgment shall be effectual only as against, and to the extent of the interest of the party signing it. 
 

Sources: Codes, 1857, ch. 57, art. 3; 1871, § 2149; 1880, § 2666; 1892, § 2732; 1906, § 3092; Hemingway's 1917, § 2456; 1930, § 2289; 1942, § 718.