Inala Shopping Centre Freeholding Act 2006
sec.24Chief executive’s charge not affected by mortgagee sale
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sec.24 Chief executive’s charge not affected by mortgagee sale
This section applies if— a transfer lot vests in the first owner subject to the chief executive’s charge; and a mortgagee exercising the power of sale under the Land Title Act sells the lot before the chief executive’s charge is released under this part. The chief executive’s charge is not released by the sale and the transfer lot is transferred to the purchaser subject to the charge. This section applies despite the Property Law Act 1974 , section 86 . (sec.24-ssec.1) This section applies if— a transfer lot vests in the first owner subject to the chief executive’s charge; and a mortgagee exercising the power of sale under the Land Title Act sells the lot before the chief executive’s charge is released under this part. (sec.24-ssec.2) The chief executive’s charge is not released by the sale and the transfer lot is transferred to the purchaser subject to the charge. (sec.24-ssec.3) This section applies despite the Property Law Act 1974 , section 86 .
- (a) a transfer lot vests in the first owner subject to the chief executive’s charge; and
- (b) a mortgagee exercising the power of sale under the Land Title Act sells the lot before the chief executive’s charge is released under this part.