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Land Titles Act 1925
98Application—how made effective
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98 Application—how made effective
(1) The registrar-general may prepare a notice offering the land for sale,
and shall limit and appoint a time, not less than 1 month from the date
of notification of the offer under the Legislation Act 2001, upon or
after which the registrar-general may issue to the applicant an order
for foreclosure, unless in the interval a sufficient amount has been
realised by the sale of the land to satisfy the principal and interest
moneys due, and all expenses occasioned by the sale.
(2) An offer under subsection (1) is a notifiable instrument.
(3) The registrar-general must also give additional public notice of the
offer.
newspaper circulating in the ACT (see Legislation Act, dict, pt 1). The
requirement in s (3) is in addition to the requirement for notification on
the legislation register as a notifiable instrument.
(4) Every such order for foreclosure entered in the register shall have the
effect of vesting in the mortgagee all the estate and interest of the
mortgagor in the land mentioned in the order free from all right and
equity of redemption on the part of the mortgagor or of any person
claiming through or under him or her.