Property Law Act 1958

S. 274(4) amended by No. 110/1986 s. 140(2).

Pt 9 (Heading and ss 275–302) inserted by No. 91/1987 s. 3, amended by Nos 57/1989 s. 3(Sch. items 166.7, 166.8), 23/1998 ss 5–7, 8(4), 27/2001 s. 3(Sch. 1 item 9) (as amended by No. 72/2001 s. 4(a)), repealed by No. 12/2008 s. 72.

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Schedules

Section 2.

First Schedule

Sch. 2 repealed by No. 9043 s. 2(c).

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Section 46. No. 5934 s. 3.

Sch. 3 amended by Nos 6433 s. 2 (as amended by No. 6489 s. 4), 6961 s. 2, 9427 s. 6(1)(Sch. 5 item 149), 9633 s. 9, substituted by No. 9858 s. 7(b).

Third Schedule—General conditions of sale of land

Sch. 3 cl. 1 amended by No. 35/1996 s. 453(Sch. 1 item 68.4(a)).

1. The muniments of title in respect of the land sold shall be produced on demand to the purchaser or his legal practitioner who shall within twenty-one days from the day of sale deliver to the vendor or his legal practitioner in writing all requisitions or objections (if any) on or to the title or concerning any matter appearing in the particulars or conditions. If the vendor fails to produce such muniments of title on demand such twenty-one days shall not commence to run until production thereof. All requisitions or objections not included in any such writing so delivered shall be deemed waived by the purchaser and in default of such requisitions (if none) and subject to such (if any) as are so delivered the purchaser shall be deemed to have accepted title.

Sch. 3 cl. 2 amended by No. 35/1996 s. 453(Sch. 1 item 68.4(a)).

2. If the purchaser within the said twenty-one days makes any such requisition or objection as aforesaid which the vendor is unable or unwilling to remove or comply with the vendor or his legal practitioner (whether or not he has attempted to remove or comply with the same and notwithstanding any negotiation or litigation in respect thereof) may give to the purchaser or his legal practitioner notice in writing of the vendor's intention to rescind the contract at the expiration of seven days unless such requisition or objection is withdrawn and if such notice is so given and the requisition or objection is not withdrawn within such seven days the contract shall thereupon be rescinded and the vendor shall repay to the purchaser all deposit and other moneys received by him or his agent on account of the purchase money but without interest costs or damages and the same shall be accepted by the purchaser in full satisfaction of all claims.

Sch. 3 cl. 3 amended by Nos 10167 s. 3(1), 50/2011 s. 46(Sch. item 13).

3. No omission from the particulars or mistake in the description measurements or area of the land hereby sold shall invalidate the sale unless the vendor rescinds pursuant to the last preceding Condition but if notified to the other party not less than three days before the day fixed for completion or within twenty-one days of the day of sale (whichever is the earlier) the same shall be the subject of compensation to be paid or received by the vendor as the case may require and to be assessed in case the parties differ by an arbitral tribunal consisting of a panel of 2 arbitrators in accordance with the provisions of the Commercial Arbitration Act 2011 and this Condition shall in that event be deemed to be a submission to arbitration within that Act.

Sch. 3 cl. 4 amended by No. 9967 s. 11.

4. If either party defaults in payment of any money under this contract then interest at a rate two per cent higher than the rate for the time being fixed under section 2 of the Penalty Interest Rates Act 1983 in lieu of any rate named in the contract and computed upon the money overdue during the period of default shall be paid on demand made by the offended party without prejudice to any other rights of the offended party.

5. Time shall be of the essence of this contract. However if either party defaults under this contract the offended party shall not be entitled to exercise any of his rights arising out of the default other than his right to sue for money then owing until he has served the offender with a written notice specifying the default and his intention to exercise his rights unless the default is remedied and the proper legal costs occasioned by the default and any interest demanded are all paid within fourteen days of service of the notice and the offender fails to comply with the notice.

6. (1) Where the default has been made by the purchaser and is not remedied all monies unpaid under this contract shall become immediately payable and recoverable at the option of the vendor.

In addition to the security the vendor may retain any part of the price paid to him pending the determination of damages and may apply that money in satisfaction or part satisfaction of those damages.

Sch. 3 cl. 7 amended by No. 35/1996 s. 453(Sch. 1 item 68.4(a)).

7. If either party rescinds this contract pursuant to the last preceding Condition then that party or his legal practitioner may notify the stakeholder accordingly whereupon the stakeholder shall pay the moneys so held to the person giving the notice. The parties hereby each appoint the other as their lawful attorney for this purpose and absolve the stakeholder from any liability for complying with such notice.

8. The land sold is purchased subject to the reservations exceptions and conditions (if any) contained in the Crown grant.

Sch. 3 cl. 9 amended by Nos 88/2005 s. 117(Sch. 2 item 4), 38/2023 s. 15, 16/2024 s. 60.

9. All rates, taxes (other than tax payable under the Land Tax Act 2005 or the Commercial and Industrial Property Tax Reform Act 2024 and tax payable under a notice of assessment issued on or before the date of the contract in respect of a liability arising under the Windfall Gains Tax Act 2021), assessments, fire insurance premiums and other outgoings in respect of the said land shall be paid by the vendor and borne by the purchaser as from the date on which he becomes entitled to possession and the same shall if necessary be apportioned between the vendor and purchaser and the rent (if any) shall be also apportioned on the same day and the balance paid or received as the case may require. In calculating the apportionment any personal statutory benefit available to any party shall be disregarded. The vendor must not require the purchaser to pay any amount for or towards tax for which the vendor is or may become liable under the Land Tax Act 2005 or the Commercial and Industrial Property Tax Reform Act 2024 or for which the vendor is liable under a notice of assessment issued on or before the date of the contract in respect of a liability arising under the Windfall Gains Tax Act 2021.

10. Subject to the purchaser obtaining the consent of the fire insurance company, paying such apportioned premium as aforesaid, and accepting title in fact or by implication, the vendor shall hold the existing policy of insurance for himself and in trust for the purchaser and all other persons having an insurable interest and to the extent of such respective interests.

Sch. 3 cl. 11 amended by Nos 10087 s. 3(1)(Sch. 1 item 192), 52/1994 s. 97(Sch. 3 item 24).

11. After the settlement date, so long as any purchase or other moneys remain owing by the purchaser to the vendor—

12. Upon payment of all purchase and other moneys payable by the purchaser under the contract the vendor shall execute a proper assurance to the purchaser of the land sold and deliver to the purchaser the muniments of title unless the land sold is under mortgage. If other land or interest are then comprised therein such muniments of title in the possession of the vendor as relate to other land property or interests may be retained by the vendor but he shall by the conveyance or other assurance give an acknowledgement and undertaking pursuant to section 64 of the Property Law Act 1958. Such assurance shall be prepared by or on behalf and at the expense of the purchaser. The delivery of such document shall not by itself be deemed acceptance of title.

Sch. 3 cl. 13 amended by No. 35/1996 s. 453(Sch. 1 item 68.4(b) (i)(ii)).

13. Any demand, notice or document by any party to this contract may be made or given by the legal practitioner for that party and shall be sufficiently served or delivered if served or delivered personally or if posted by prepaid post addressed either to the party to be served or his legal practitioner at their respective addresses as named in the contract or if served in any other manner authorized by the Supreme Court Rules for service of documents upon parties or their legal practitioners.

14. (a) Where the consent or licence of any person or body is required to the sale, the vendor shall at his own expense apply for and use his best endeavours to obtain such consent or licence. If such consent or licence is not obtained by the date upon which the purchaser becomes entitled to possession of the land sold or to the receipt of the rents and profits thereof as the case may be (in these Conditions called "the settlement date") the contract shall be null and void and all moneys paid hereunder by the purchaser shall be refunded to him.

15. The purchaser shall assume liability for compliance with any notices or orders relating to the property sold (other than those referring to apportionable outgoings) which are made or issued on or after the day of sale but the purchaser shall be entitled to enter on the property sold (without thereby being deemed to have accepted title) at any time prior to the settlement date for the purpose of complying with any such notice or order which requires to be complied with before the settlement date. The purchaser may also inspect the condition of the property and the chattels at any reasonable time during the period of seven days preceding the settlement date.

Sch. 3 cl. 16 amended by No. 11/2001 s. 3(Sch. item 59.2).

16. Any payment due under this contract may be made or tendered either in cash or by a draft or cheque drawn on account of an authorised deposit-taking institution within the meaning of the Banking Act 1959 of the Commonwealth.

17. (1) If the purchaser is not in default in any respect under the contract, at any time after acceptance of title and before payment in full of the purchase money the vendor shall on the request of the purchaser convey the land to the purchaser by a proper assurance prepared by and at the expense of the purchaser, the purchaser simultaneously with such conveyance re-conveying the land to the vendor by way of mortgage to secure payment of all moneys thereafter to become payable by the purchaser pursuant to the contract.

Sections 76, 77.

Fourth Schedule—Implied covenants

PART I

Covenant implied in a Conveyance for Valuable Consideration, other than a Mortgage, by a Person who Conveys and is expressed to Convey as Beneficial Owner

That, notwithstanding anything by the person who so conveys or any one through whom he derives title otherwise than by purchase for value, made, done, executed or omitted, or knowingly suffered, the person who so conveys, has, with the concurrence of every other person (if any) conveying by his direction, full power to convey the subject-matter expressed to be conveyed, subject as, if so expressed, and in the manner in which, it is expressed to be conveyed, and that, notwithstanding anything as aforesaid, that subject-matter shall remain to and be quietly entered upon, received, and held, occupied, enjoyed, and taken, by the person to whom the conveyance is expressed to be made, and any person deriving title under him, and the benefit thereof shall be received and taken accordingly, without any lawful interruption or disturbance by the person who so conveys or any person conveying by his direction, or rightfully claiming or to claim by, through, under, or in trust for the person who so conveys, or any person conveying by his direction, or by, through, or under any one (not being a person claiming in respect of an estate or interest subject whereto the conveyance is expressly made), through whom the person who so conveys derives title, otherwise than by purchase for value:

And that, freed and discharged from, or otherwise by the person who so conveys sufficiently indemnified against, all such estates, incumbrances, claims and demands, other than those subject to which the conveyance is expressly made, as, either before or after the date of the conveyance, have been or shall be made, occasioned or suffered by that person or by any person conveying by his direction, or by any person rightfully claiming by, through, under or in trust for the person who so conveys, or by, through or under any person conveying by his direction, or by, through, or under any one through whom the person who so conveys derives title, otherwise than by purchase for value:

And further, that the person who so conveys, and any person conveying by his direction, and every other person having or rightfully claiming any estate or interest in the subject-matter of conveyance, other than an estate or interest subject whereto the conveyance is expressly made, by, through, under or in trust for the person who so conveys, or by, through, or under any person conveying by his direction, or by, through or under any one through whom the person who so conveys derives title, otherwise than by purchase for value, will, from time to time and at all times after the date of the conveyance, on the request and at the cost of any person to whom the conveyance is expressed to be made, or of any person deriving title under him, execute and do all such lawful assurances and things for further or more perfectly assuring the subject-matter of the conveyance to the person to whom the conveyance is made, and to those deriving title under him, subject as, if so expressed, and in the manner in which the conveyance is expressed to be made, as by him or them or any of them shall be reasonably required.

In the above covenant a purchase for value shall not be deemed to include a conveyance in consideration of marriage.

PART II

Further Covenant implied in a Conveyance of Leasehold Property for Valuable Consideration, other than a Mortgage, by a Person who Conveys and is expressed to Convey as Beneficial Owner

That, notwithstanding anything by the person who so conveys, or any one through whom he derives title, otherwise than by purchase for value, made, done, executed or omitted, or knowingly suffered, the lease or grant creating the term or estate for which the land is conveyed is, at the time of conveyance, a good valid, and effectual lease or grant of the property conveyed, and is in full force, unforfeited, unsurrendered, and has nowise become void or voidable, and that, notwithstanding anything as aforesaid, all the rents reserved by, and all the covenants, conditions and agreements contained in, the lease or grant, and on the part of the lessee or grantee and the persons deriving title under him to be paid, observed and performed, have been paid, observed and performed up to the time of conveyance.

In the above covenant a purchase for value shall not be deemed to include a conveyance in consideration of marriage.

PART III

Covenant implied in a Conveyance by way of Mortgage by a Person who Conveys and is expressed to Convey as Beneficial Owner

That the person who so conveys, has, with the concurrence of every other person, if any, conveying by his direction, full power to convey the subject‑matter expressed to be conveyed by him, subject as, if so expressed, and in the manner in which it is expressed to be conveyed:

And also that, if default is made in payment of the money intended to be secured by the conveyance, or any interest thereon, or any part of that money or interest, contrary to any provision in the conveyance, it shall be lawful for the person to whom the conveyance is expressed to be made, and the persons deriving title under him, to enter into and upon, or receive, and thenceforth quietly hold, occupy and enjoy or take and have, the subject-matter expressed to be conveyed, or any part thereof, without any lawful interruption or disturbance by the person who so conveys, or any person conveying by his direction, or any other person (not being a person claiming in respect of an estate or interest subject whereto the conveyance is expressly made):

And that, freed and discharged from, or otherwise by the person who so conveys sufficiently indemnified against, all estates, incumbrances, claims and demands whatever other than those subject whereto the conveyance is expressly made:

And further, that the person who so conveys and every person conveying by his direction, and every person deriving title under any of them, and every other person having or rightfully claiming any estate or interest in the subject-matter of conveyance, or any part thereof, other than an estate or interest subject whereto the conveyance is expressly made, will from time to time and at all times, on the request of any person to whom the conveyance is expressed to be made, or of any person deriving title under him, but, as long as any right of redemption exists under the conveyance, at the cost of the person so conveying, or of those deriving title under him, and afterwards at the cost of the person making the request, execute and do all such lawful assurances and things for further or more perfectly assuring the subject-matter of conveyance and every part thereof to the person to whom the conveyance is made, and to those deriving title under him, subject as, if so expressed, and in the manner in which the conveyance is expressed to be made, as by him or them or any of them shall be reasonably required.

PART IV

Covenant implied in a Conveyance by way of Mortgage of Leasehold Property by a Person who Conveys and is expressed to Convey as Beneficial Owner

That the lease or grant creating the term or estate for which the land is held is, at the time of conveyance, a good, valid and effectual lease or grant of the land conveyed and is in full force, unforfeited and unsurrendered and has in nowise become void or voidable, and that all the rents reserved by, and all the covenants, conditions and agreements contained in, the lease or grant, and on the part of the lessee or grantee and the persons deriving title under him to be paid, observed and performed, have been paid, observed and performed up to the time of conveyance:

And also that the person so conveying, or the persons deriving title under him, will at all times, as long as any money remains owing on the security of the conveyance, pay observe and perform, or cause to be paid, observed and performed all the rents reserved by, and all the covenants, conditions and agreements contained in, the lease or grant, and on the part of the lessee or grantee and the persons deriving title under him to be paid, observed and performed, and will keep the person to whom the conveyance is made, and those deriving title under him, indemnified against all actions proceedings, costs, charges, damages, claims and demands (if any) to be incurred or sustained by him or them by reason of the non-payment of such rent or the non-observance or non-performance of such covenants, conditions and agreements, or any of them.

PART V

Covenant implied in a Conveyance by way of Settlement, by a Person who Conveys and is expressed to Convey as Settlor

That the person so conveying, and every person deriving title under him by deed or act or operation of law in his lifetime subsequent to that conveyance, or by testamentary disposition or devolution in law, on his death, will, from time to time, and at all times, after the date of that conveyance, at the request and cost of any person deriving title thereunder, execute and do all such lawful assurances and things for further or more perfectly assuring the subject-matter of the conveyance to the persons to whom the conveyance is made and those deriving title under them, as by them or any of them shall be reasonably required, subject as if so expressed, and in the manner in which the conveyance is expressed to be made.

PART VI

Covenant implied in any Conveyance, by every Person who Conveys and is expressed to Convey as Trustee or Mortgagee, or as Personal Representative of a Deceased Person, or as Committee of the Estate of a Lunatic or under an Order of the Court

That the person so conveying has not executed or done, or knowingly suffered, or been party or privy to any deed or thing, whereby or by means whereof the subject-matter of the conveyance or any part thereof, is or may be impeached, charged, affected or incumbered in title, estate, or otherwise, or whereby or by means whereof the person who so conveys is in anywise hindered from conveying the subject-matter of the conveyance, or any part thereof, in the manner in which it is expressed to be conveyed.

The foregoing covenant may be implied in an assent in like manner as in a conveyance by deed.

PART VII

Covenant implied in a Conveyance for Valuable Consideration other than a Mortgage, of the Entirety of Land affected by a Rentcharge

That the grantees or the persons deriving title under them will at all times, from the date of the conveyance or other date therein stated, duly pay the said rentcharge and observe and perform all the covenants, agreements and conditions contained in the deed or other document creating the rentcharge, and thenceforth on the part of the owner of the land to be observed and performed:

And also will at all times, from the date aforesaid, save harmless and keep indemnified the conveying parties and their respective estates and effects, from and against all proceedings, costs, claims and expenses on account of any omission to pay the said rentcharge or any part thereof, or any breach of any of the said covenants, agreements and conditions.

PART VIII

Covenants implied in a Conveyance for Valuable Consideration, other than a Mortgage, of Part of Land affected by a Rentcharge, subject to a Part (not legally apportioned) of that Rentcharge

Sch. 4 Pt 8 cl. (i) amended by No. 71/1994 s. 4(c)(i).

And also will at all times, from the date aforesaid, save harmless and keep indemnified the conveying parties and their respective estates and effects, from and against all proceedings, costs, claims and expenses on account of any omission to pay the said apportioned rent, or any breach of any of the said covenants and conditions, so far as the same relate as aforesaid.

Sch. 4 Pt 8 cl. (ii) amended by No. 71/1994 s. 4(c)(ii).

And also will at all times from the date aforesaid, save harmless and keep indemnified the grantees and their estates and effects, from and against all proceedings, costs, claims and expenses on account of any omission to pay the aforesaid balance of the rentcharge, or any breach of any of the said covenants and conditions so far as they relate as aforesaid.

Sch. 4 Pt 9 amended by No. 71/1994 s. 4(d).

PART IX

Covenant in a Conveyance for Valuable Consideration, other than a Mortgage, of the Entirety of the Land comprised in a Lease for the Residue of the Term or Interest created by the Lease

That the assignees or the persons deriving title under them, will at all times, from the date of the conveyance or other date therein stated, duly pay all rent becoming due under the lease creating the term or interest for which the land is conveyed, and observe and perform all the covenants, agreements and conditions therein contained and thenceforth on the part of the lessees to be observed and performed:

And also will at all times, from the date aforesaid, save harmless and keep indemnified the conveying parties and their estates and effects, from and against all proceedings, costs, claims and expenses on account of any omission to pay the said rent or any breach of any of the said covenants, agreements and conditions.

PART X

Covenants implied in a Conveyance for Valuable Consideration, other than a Mortgage, of Part of the Land comprised in a Lease, for the Residue of the Term or Interest created by the Lease subject to a Part (not legally apportioned) of that Rent

And also will at all times, from the date aforesaid, save harmless and keep indemnified the conveying parties and their respective estates and effects, from and against all proceedings, costs, claims and expenses on account of any omission to pay the said apportioned rent or any breach of any of the said covenants, agreements and conditions so far as the same relate as aforesaid.

And also will at all times, from the date aforesaid, save harmless and keep indemnified the assignees and their estates and effects, from and against all proceedings, costs, claims and expenses on account of any omission to pay the aforesaid balance of the rent or any breach of any of the said covenants, agreements and conditions so far as they relate as aforesaid.

Section 114.

Sch. 5 amended by No. 70/2013 s. 3(Sch. 1 item 42.3).

Fifth Schedule—Form of transfer of mortgage

THIS INDENTURE made the day of 20 between M. of [&c.] of the one part, and T. of [&c.] of the other part, supplemental to an Indenture of Mortgage dated [&c.] and made between [&c.], and to an Indenture of Further Charge dated [&c.] and made between [&c.] affecting [&c.] [here state short particulars of mortgaged property].

WITNESSETH that in consideration of the sums of $ and

$ now paid by T. to M. being the respective amounts of the mortgage money and interest owing in respect of the said mortgage and further charge (the receipt of which sums M. hereby acknowledges), M., as mortgagee, hereby conveys and transfers to T. the benefit of the said mortgage and further charge.

In witness, &c.

Section 115.

Sch. 6 amended by No. 70/2013 s. 3(Sch. 1 item 42.4).

Sixth Schedule—Form of receipt under seal on discharge of a mortgage

I, A.B. of [&c.] hereby acknowledge that I have this day of

20 received the sum of $ representing the aggregate [or balance remaining owing in respect of the, as the case may be] principal money secured by the within [or above, as the case may be] written [or annexed, as the case may be] mortgage (and by an Indenture of Further Charge dated &c. or otherwise as required) together with all interest and costs, the payment having been made by C.D. of [&c.] and E.F. of [&c.].

In witness, &c.

Section 117.

Seventh Schedule—Statutory mortgage

Sch. 7 Pt 1 amended by No. 70/2013 s. 3(Sch. 1 item 42.5).

PART I

THIS INDENTURE made by way of statutory mortgage the day

of 20 , between A. of [&c.] of the one part and M. of [&c.] of the other part.

WITNESSETH that in consideration of the sum of $ now paid to A. by M. of which sum A. hereby acknowledges the receipt A. as mortgagor and as beneficial owner hereby conveys to M. All that [&c.]

To hold to and to the use of M. in fee-simple for securing payment on the day of 20 of the principal sum of $ as the mortgage money with interest thereon at the rate of [four] per centum per annum.

In witness, &c.

*_** Variations in this and subsequent forms to be made, if required, for leasehold land or for giving effect to special arrangements.

PART II

Section 118.

Sch. 7 Pt 2(A) amended by No. 70/2013 s. 3(Sch. 1 item 42.5).

Deed of Statutory Transfer, Mortgagor not joining

THIS INDENTURE made by way of statutory transfer of mortgage the day of 20 between M. of [&c.] of the one part and T. of [&c.] of the other part supplemental to an indenture made by way of statutory

mortgage dated the day of 20 , and made between [&c.]

WITNESSETH that in consideration of the sum of $ now paid to

M. by T. being the aggregate amount of $ mortgage money and

$ interest due in respect of the said mortgage of which sum M. hereby acknowledges the receipt M. as mortgagee hereby conveys and transfers to T. the benefit of the said mortgage.

In witness, &c.

Section 120.

Sch. 7 Pt 2(B) amended by Nos 71/1994 s. 4(e), 70/2013 s. 3(Sch. 1 item 42.5).

Deed of Statutory Transfer, a Covenantor joining

THIS INDENTURE made by way of statutory transfer of mortgage the day of 20 , between A. of [&c.] of the first part B. of [&c.] of the second part and C. of [&c.] of the third part supplemental to an

indenture made by way of statutory mortgage dated the day of