sec.120AEffect on writ of execution of transfer after sale by mortgagee

### sec.120A Effect on writ of execution of transfer after sale by mortgagee Subsection (2) applies if— a mortgage is registered over a lot; and a writ of execution is later registered in relation to the lot. If the mortgagee of the lot signs a transfer of the lot after exercising power of sale under the mortgage— registration of the writ of execution does not prevent registration of the transfer; and on registration of the transfer, the registrar must cancel registration of the writ of execution. s 120A ins 2001 No. 33 s 31 (sec.120A-ssec.1) Subsection (2) applies if— a mortgage is registered over a lot; and a writ of execution is later registered in relation to the lot. (sec.120A-ssec.2) If the mortgagee of the lot signs a transfer of the lot after exercising power of sale under the mortgage— registration of the writ of execution does not prevent registration of the transfer; and on registration of the transfer, the registrar must cancel registration of the writ of execution. - (a) a mortgage is registered over a lot; and - (b) a writ of execution is later registered in relation to the lot. - (a) registration of the writ of execution does not prevent registration of the transfer; and - (b) on registration of the transfer, the registrar must cancel registration of the writ of execution.