sec.22Sale of lot by chief executive

sec.22 Sale of lot by chief executive

If the chief executive may sell a transfer lot under section 20 (7) (a) , the lot may be sold by public auction or private contract. The chief executive must apply the proceeds of sale as follows— firstly, in payment of all costs, charges and expenses properly incurred by the chief executive in the sale or a previous attempted sale of the transfer lot; secondly, in payment of the demand amount to the chief executive; thirdly, in payment of any amount owing to a mortgagee or, if there is more than 1 mortgagee, according to their priorities; lastly, in payment to the previous registered owner of the lot. On the sale of the transfer lot, the chief executive must give the registrar of titles an instrument of transfer executed by the chief executive, in the approved form under the Land Title Act , in relation to the sale. On receiving the instrument of transfer, the registrar of titles must register the purchaser stated in the instrument for the interest held in the transfer lot by the previous registered owner, free of all encumbrances. The registrar of titles must comply with subsection (4) even if an instrument of title relating to the transfer lot is not produced. Subsection (4) applies subject to section 23 . If the demand amount has not been paid in full after the proceeds of sale are applied, the unpaid part of the amount may be recovered from the previous registered owner of the transfer lot as a debt owing to the State. The Property Law Act 1974 does not apply to the exercise of the chief executive’s powers under this section. In this section— encumbrance — includes any of the following affecting land— a mortgage, lien or charge; a caveat; an agreement; a judgment, writ or process; an interest adverse to the interest of the land’s owner; but does not include an easement. previous registered owner , of a transfer lot sold under this section, means the person who was the registered owner of the lot immediately before its sale. (sec.22-ssec.1) If the chief executive may sell a transfer lot under section 20 (7) (a) , the lot may be sold by public auction or private contract. (sec.22-ssec.2) The chief executive must apply the proceeds of sale as follows— firstly, in payment of all costs, charges and expenses properly incurred by the chief executive in the sale or a previous attempted sale of the transfer lot; secondly, in payment of the demand amount to the chief executive; thirdly, in payment of any amount owing to a mortgagee or, if there is more than 1 mortgagee, according to their priorities; lastly, in payment to the previous registered owner of the lot. (sec.22-ssec.3) On the sale of the transfer lot, the chief executive must give the registrar of titles an instrument of transfer executed by the chief executive, in the approved form under the Land Title Act , in relation to the sale. (sec.22-ssec.4) On receiving the instrument of transfer, the registrar of titles must register the purchaser stated in the instrument for the interest held in the transfer lot by the previous registered owner, free of all encumbrances. (sec.22-ssec.5) The registrar of titles must comply with subsection (4) even if an instrument of title relating to the transfer lot is not produced. (sec.22-ssec.6) Subsection (4) applies subject to section 23 . (sec.22-ssec.7) If the demand amount has not been paid in full after the proceeds of sale are applied, the unpaid part of the amount may be recovered from the previous registered owner of the transfer lot as a debt owing to the State. (sec.22-ssec.8) The Property Law Act 1974 does not apply to the exercise of the chief executive’s powers under this section. (sec.22-ssec.9) In this section— encumbrance — includes any of the following affecting land— a mortgage, lien or charge; a caveat; an agreement; a judgment, writ or process; an interest adverse to the interest of the land’s owner; but does not include an easement. previous registered owner , of a transfer lot sold under this section, means the person who was the registered owner of the lot immediately before its sale.