Sale or transfer cancels encumbrances
287D Sale or transfer cancels encumbrances
When an Authority sells a water share, or causes it to be transferred, under section 287B—
S. 287D(1)(a) amended by No. 32/2010 s. 66(1).
the sale or transfer is free from all rights of the owner of the water share or any mortgagee over the water share; and
the Registrar must, when registering the transfer, cancel any recorded mortgages on the water share.
S. 287D(2) inserted by No. 32/2010 s. 66(2).
The application of this section to the sale or transfer of water share is not to be taken to affect the rights of any holder of a limited term transfer under the water share.
Pt 13A (Heading and ss 287E–287U) inserted by No. 85/2006 s. 120.
Part 13A—Process for transfer of property etc. of Authorities
S. 287E inserted by No. 85/2006 s. 120.
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