Mortgages

“ In the legal profession the term ‘costs’ refers to the fees and other expenses a practitioner charges a client for their professional services and other payments that arise out of the provision of legal services, including disbursements such as court fees. Costs are one of the most heavily ... ”

“ Australian Securities and Investments Commission Australian Financial Security Authority ”

“ 1001 Conveyancing Answers for Queensland Papers and Articles – Conveyancing and Property ”

“ Taking good instructions The use of precedent Retainer Instructions ensures that all important issues are considered, instructions which cannot be contradicted later are recorded, costs discussed and the scope of the retainer clearly defined. ”

“ Mortgages, discharges of mortgage, caveats and withdrawals of caveat may all be lodged electronically. See the detailed commentary A brief explanation of the transition to E-conveyancing for information on transactions that must be completed electronically, transactions that can be completed ... ”

“ The National Mortgage Form is a national initiative that standardises the content and presentation of mortgages lodged for registration through all lodgement channels with land registries in participating Australian states and territories. Mortgagees and practitioners across all jurisdictions must ... ”

“ A mortgage is a totally fictional concept. It has no physical presence, and whilst it may be represented in a physical form by a document that is not necessary. It is a legal concept created to represent a form of proprietary interest recognised by the law. It arises when an owner of property ... ”

“ The consequence of a mortgage of old system land is that ownership in law transferred to the mortgagee, subject to the right of the mortgagor to regain ownership upon repayment. This right was known as the equity of redemption. Whilst that is not the effect of a Torrens mortgage, where ownership ... ”

“ An instrument of mortgage must be executed in the approved form: s 73 Land Title Act 1994. Assurances of land must be in writing: s 10 Property Law Act 1974. ”

“ Whilst the common law insisted on the formality of a deed, equity was more prepared to examine the intention of the parties and enforce relationships as mortgages even if they did not achieve the formality requirements of the common law. Equity merely needed to be satisfied that the parties ... ”

“ The simplest mortgage relationship involves two parties: the lender who provides the money and the borrower who receives it and gives a mortgage over their property. However a third party may become involved if the borrower, whilst receiving the money and promising to repay, has no property to ... ”

“ As legal entities, corporations can enter into mortgages over property owned by the corporation. The risk for the mortgagee however relates to the execution of mortgage documents. A document that is fraudulently executed is a nullity at common law. A mortgagee who accepts a mortgage signed by ... ”

“ Most documents establishing a trust will authorise the trustee to borrow for the purposes of the trust. It is beyond the trustee power and in breach of trust for the trustee to borrow for purposes other than the trust. A lender might not have notice of the existence of the trust and therefore not ... ”

“ The National Credit Code (‘the code’) replaced the existing state and territory based consumer credit codes with effect from 1 July 2010. It is found in Schedule 1 to the National Consumer Credit Protection Act 2009. The code has a broad effect on mortgages. Section 7 of the code stipulates the ... ”

“ Even if one joint proprietor/borrower forges the signature of the other joint proprietor/borrower, the lender's mortgagee will become indefeasible upon registration. However the mortgage will only allow the lender to enforce against the 'innocent' joint proprietor to the extent of the mortgage ... ”

“ As from 30 January 2012 the Personal Property Securities Act 2009 governs the priorities between competing interests whereby security interests, formerly known as charges, are registered on the Personal Property Securities Register (PPSR). Charges registered with ASIC prior to 30 January 2012 were ... ”

“ A loan agreement does not of necessity require the payment of interest as it may simply require repayment of the principal sum. Generally interest is only payable if the agreement between the parties provides for the payment of interest. However s 78(1)(a) Property Law Act 1974 implies a covenant ... ”

“ A mortgage is a contract. If the mortgage provides that repayment is to be on an ascertainable date, then that is the date for repayment whereby either early or late repayment will be a breach of the contract. Early repayment ”

“ Legal costs In the absence of an agreement between the parties, the mortgagor is not liable to pay the mortgagee’s legal costs. However, most mortgage documents provide that the mortgagor will pay those costs. Costs will be on a party-party basis only, unless otherwise agreed, but may provide for ... ”

“ No action for recovery of money due under a mortgage may be commenced after 12 years from the date when the right to the money accrued: s 26 Limitation of Actions Act 1974. An acknowledgement of liability under the mortgage prior to expiration of the limitation period may extend that period: ... ”