Any mortgagee or trustee of such lands not in possession thereof may, within twelve calendar months after execution executed, pay the rent and all arrears, with interest and costs, or file in equity, for relief against such forfeiture; and thereupon may be relieved against it, on the same terms and conditions as the owner of such lands or tenements would be entitled to.
Terms Used In Virginia Code 55-241
- Mortgagee: The person to whom property is mortgaged and who has loaned the money.
- Trustee: A person or institution holding and administering property in trust.
Code 1919, § 5532.