Mortgages

“ Loans and mortgages page - Land Services and Lands Titles Office South Australia Personal Property Securities Register ”

“ Personal Property Securities 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. ”

“ A client authorisation enables a client to authorise a solicitor or conveyancer to act on their behalf for an electronic transaction. Although the authorisation is similar to a power of attorney, legislation specifically states that a client authorisation is not a power of attorney. When ... ”

“ 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 ... ”

“ The mortgage must be supported by a loan agreement between the mortgagee and the mortgagor. The guide includes two loan agreements that may be used to record the creation of the loan relationship. The Mortgage Linked Loan Agreement is linked to the mortgage which incorporates the provisions found in ”

“ All eligible mortgages, discharges of mortgages and transfers of mortgages must be lodged electronically. Exemptions for electronic lodgement ”

“ A second or subsequent mortgage has the same form as a first mortgage. Any number of mortgages may be granted over a property if the mortgagee is either satisfied that the mortgagor still retains sufficient equity in the property to support another mortgage or is prepared to take another mortgage ... ”

“ Duty on mortgages and discharges of mortgages executed on and after 1 July 2009 has been abolished. Up to 30 June 2009, a stamp duty was payable on a mortgage before the transaction instrument could be registered. Now, unstamped non-dutiable mortgages are accepted for registration at the Lands ... ”

“ A collateral security is one given in addition to the principal security and is independent of, but subordinate to, the principal security. A collateral mortgage, therefore, is a mortgage relating to the same debt as the principal security, often referred to as a primary instrument. The mortgage ... ”

“ Under the Torrens system there can be no legal mortgage without its registration. However, once executed by the parties, an equitable mortgage comes into existence pending registration. There are variants of the equitable mortgage but in essence there are two types: ”

“ The National Credit 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. The National Credit Code has a broad effect on mortgages. Section 7 of the National Credit Code ... ”

“ If one joint proprietor forges the signature of another joint proprietor, the lender's interest will gain the benefit of indefeasibility upon registration. However the mortgage will only be enforceable against the innocent party to the extent of the mortgage debt and so reference must be made to ... ”

“ As from 30 January 2012 the PPSA legislation governs the priorities between competing interests. Security interests, formerly known as charges, are registered with the Personal Property Securities Register under the Personal Property Securities Act. Charges registered at ASIC before 30 January 2012 ... ”

“ Every mortgage contains a power in the mortgagee to sell the mortgaged premises on the mortgagor’s default. This is the most important remedy enabling the mortgagee to ensure repayment of an advance. The default usually, but not always, relates to a default in payment of the principal sum secured ... ”

“ Unless the terms of the notice are complied with, the mortgagee’s power of sale is exercisable after the expiration of the notice period. In this regard the Real Property Act allows the mortgagor one month in which to remedy the breach. This period can be, and often is, varied in the mortgage, but ... ”

“ Section 137 of the Act gives the mortgagee the power to take possession of the secured property. See Part 17 Ejectment for the procedure. The mortgagor may vacate the property voluntarily. If not, the mortgagee will have to obtain the issue of a warrant for possession from the Supreme Court. This ... ”

“ Foreclosure is the process by which the mortgagee seeks to extinguish the equity of redemption and vest the mortgaged property absolutely in the mortgagee. This means that, as absolute owner, the mortgagee can deal with the property beneficially and not as mortgagee exercising a power of sale under ... ”

“ A Farm Financial Strategy agreed between the South Australian Farmers’ Federation, Australian Bankers’ Association, Primary Industries and Regions South Australia, Rural Financial Counselling Service SA Inc. and the Law Society of South Australia allows for a voluntary mediation process to resolve ... ”

“ It is not intended here to provide precedents for use in institutional lending or lending by organisations in the business of lending, but rather to provide straightforward documentation for those many one-off occasions that money is either borrowed from or lent to clients. Various statutory and ... ”