136AEffect on writ of execution of transfer after sale by mortgagee

136A Effect on writ of execution of transfer after sale by mortgagee (1) Subsection (2) applies to a lot over which: (a) a mortgage is registered; and (b) a writ of execution is later registered in relation to the lot. (2) If the mortgagee of the lot signs a transfer of the lot after exercising power of sale under the mortgage: (a) registration of the writ of execution does not prevent registration of the transfer; and (b) on registration of the transfer, the Registrar-General must cancel registration of the writ of execution.

Land Title Act 2000 74