389A
In forceEffect on writ of execution of transfer after sale by mortgagee
Chapter 6Registration and dealings
Part 4Dealings affecting land
Division 11Writs of execution
389A Effect on writ of execution of transfer after sale by mortgagee
(1)
Subsection (2) applies if—
(a)
a mortgage is registered over a lease; and
(b)
a writ of execution is later registered in relation to the lease.
(2)
If the mortgagee of the lease signs a transfer of the lease after exercising power of sale under the mortgage—
(a)
registration of the writ of execution does not prevent registration of the transfer; and
(b)
on registration of the transfer, the registrar of titles must cancel registration of the writ of execution.
This Act’s bill:Explanatory memorandum
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