58Apportionment of amounts under contracts of sale of land

58 Apportionment of amounts under contracts of sale of land

(1) Section 10G does not apply to a contract of sale of land entered into before 1 January 2024.

(2) Section 10H does not apply to any of the following—

(a) a contract of sale of land entered into before 1 January 2024;

(b) an option to enter into a contract of sale of land granted before 1 January 2024;

(c) a contract of sale of land entered into on or after 1 January 2024 under the exercise of an option that was granted before 1 January 2024.

Schedules

Section 6.

Sch. 1 (Heading) substituted by No. 42/1989 s. 4(e).

Schedule 1—Particulars of mortgage

Particulars to be Supplied When Land Sold Subject to a Mortgage.

(a) The amount secured by the mortgage is

(b) The mortgage 1 does not provide for further advances by the mortgagee.
1 provides for further advances as follows:

(c) The rate of interest presently payable under the mortgage is

Sch. 1(d) substituted by No. 7052 s. 2(k)(i), amended by No. 6/2008 s. 35.

(d) Subject to compliance with the terms and conditions of the mortgage the amount secured by the mortgage is to be repaid by the day of 20 .;

Sch. 1(e) substituted by No. 7052 s. 2(k)(i).

(e) Instalments under the mortgage must be made as follows: 3

Amount at intervals.

(f) The vendor is 1 not in default under the mortgage.
1 in default under the mortgage in the following respects:

Sch. 1(g) inserted by No. 42/1989 s. 4(f).

(g) At the date of giving these particulars, the amount required to discharge the mortgage is;

Sch. 1(h) inserted by No. 42/1989 s. 4(f).

(h) The mortgagee's name and address are as follows:

Name:

Address:

Sch. 1(i) inserted by No. 42/1989 s. 4(f).

(i) (to be completed if the contract is a terms contract and the consideration is to be satisfied in part by the purchaser assuming the obligations of the mortgagor)—

the mortgagee—

1 has consented to the purchaser assuming the mortgagor's obligations under the mortgage—

1 has not consented to the purchaser assuming the mortgagor's obligations under the mortgage.

Footnote amended by No. 7052 s. 2(k)(ii).

1 As the case requires.

2 Insert summary of relevant provisions.

3 Not required if mortgage does not provide for repayment by instalments.