64ADisclaimer in bankruptcy – land

64A Disclaimer in bankruptcy – land (1) The Registrar-General may register a disclaimer of a lot or an interest in a lot (except a lease) under a law about bankruptcy only if the disclaimer and a request to register it is lodged.

Land Title Act 2000 47 (2) The disclaimer operates as a surrender of the lot or interest in the lot on it being registered. (3) If the lot or the interest in the lot is mortgaged, a mortgagee may apply to the Registrar-General to register a notice of foreclosure. (4) A notice of foreclosure must be accompanied by the disclaimer. (5) On the notice of foreclosure being registered: (a) the estate or interest of the bankrupt in the lot or interest in the lot vests in the mortgagee free from all other charges; and (b) the Registrar-General must register the mortgagee as registered proprietor of the lot or interest in the lot. (6) A notice of foreclosure must not be registered unless the Registrar-General is satisfied that the mortgagee: (a) has given 14 days written notice of the mortgagee's intended application to every subsequent mortgagee of the lot or interest in the lot; or (b) has obtained the written consent of every subsequent mortgagee of the lot or interest in the lot. (7) A subsequent mortgagee may pay to the mortgagee the amount due to the mortgagee under the mortgage, with costs, at any time before foreclosure. (8) On paying the amount under subsection (7), the subsequent mortgagee is entitled to a transfer from the mortgagee of the