Sch 1 (National Credit Code), s 44
In forceMortgages over all property void
Volume 1Chapters 1 to 6 (sections 1 to 322)
Schedule 1National Credit Code
Part 5-5Other administrative matters
Division 2Other administrative matters
44 Mortgages over all property void
(1)
A mortgage that does not describe or identify the property which is subject to the mortgage is void.
(2)
Without limiting subsection (1), a provision in a mortgage that charges all the property of the mortgagor is void.
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