CONFISCATION OF CRIMINAL ASSETS ACT 2003 - SECT 110 Vesting of registrable property on forfeiture
CONFISCATION OF CRIMINAL ASSETS ACT 2003 - SECT 110
Vesting of registrable property on forfeiture(1) This section applies despite section 109, if the forfeited property is, or is an interest in, registrable property.
(2) On forfeiture, the property or the interest vests in equity in the Territory, but does not vest at law in the Territory until the applicable registration requirements for the property or the interest have been complied with.
Example
All of a person's property, except a mortgage over the person's house, is restrained before the person's conviction for a serious offence. All the restrained property is forfeited 14 days after the person's conviction. The mortgagee's interest is not forfeited because it was not restrained. However, all other registrable interests in the house are forfeited and vest in the Territory in equity. On registration of the interests under the Land Titles Act 1925
, the interests vest in law in the Territory.
Note 1 For the power of a relevant court to order the sale of property owned by more than 1 person, see div 9.4.
Note 2 Non-registrable property vests ‘at law' in the Territory on forfeiture, because it vests ‘absolutely' under s 109. Registrable property vests ‘at law' in the Territory when it is registered in the name of the Territory under this section.
(3) The Territory is entitled to be registered as the owner of the property or the interest.
(4) The registration of the Territory as the owner of the property is taken not to be a contravention of a direction under section 111 (3) in relation to the property.
Note If a joint owner of restrained property dies, and the property is later forfeited, the forfeiture takes effect as if the property had been forfeited immediately before death (see s 106).
(5) To remove any doubt, if property is divisible into 2 or more interests and not all the interests in the property are forfeited, the other interest or interests are not ended only because of the forfeiture of another interest in the property.