New South Wales Repealed Acts

This legislation has been repealed.

LOCAL COURTS (CIVIL CLAIMS) ACT 1970 - SECT 62B

62B Sale or mortgage by judgment debtor of land affected by writ

(1) In this section:
"issuing registrar", in relation to a writ of execution, means the registrar of the court at which the writ of execution was issued.
"notice of consent" means the notice referred to in subsection (2) (a).

(2) If land is affected by a writ of execution particulars of which have been recorded in accordance with section 105 of the Real Property Act 1900 , or which has been registered in the register of causes, writs and orders affecting land in accordance with section 186 of the Conveyancing Act 1919 and:

(a) the judgment creditor consents, by notice in writing, to the sale or mortgage of the land by the judgment debtor, and

(b) the judgment creditor stipulates, in the notice of consent, the minimum amount that should be paid to the issuing registrar out of the proceeds of the sale or the money advanced in respect of the mortgage, and

(c) the notice of consent is filed with the issuing registrar, and

(d) the issuing registrar, after due inquiry, endorses the notice of consent with a certificate to the effect that the land has not been sold under the writ,

the endorsement of the notice with that certificate operates to prohibit the sale of the land under the writ during the prescribed period.

(3) If during that prescribed period:

(a) the judgment debtor sells or mortgages the land, and

(b) in the case of a sale, the amount of the deposit (if any) is paid to the issuing registrar, to be held by the registrar as stakeholder, and

(c) an amount (including any deposit paid to the issuing registrar as referred to in paragraph (b)) that is not less than:

(i) the minimum amount referred to in subsection (2) (b), or

(ii) if the judgment creditor notifies the issuing registrar in writing that he or she consents to payment of a specified amount that is less than that minimum amount-that specified amount,

is paid to the issuing registrar out of the proceeds of the sale or money advanced in respect of the mortgage,

any liability of the purchaser or mortgagee for payment to the judgment debtor of those proceeds or that money is extinguished to the extent of the amount so paid to the issuing registrar, and the issuing registrar must, upon production to him or her of the instrument evidencing the sale or mortgage, and if he or she is satisfied as to the matters referred to in paragraphs (a), (b) and (c), endorse the instrument with his or her consent to the sale or mortgage.

(4) The interest of the purchaser or mortgagee evidenced by the instrument endorsed with the issuing registrar’s consent is not, in relation to the land, affected by anything done or purporting to have been done, whether before or after the endorsement of the consent, under the writ of execution.

(5) The amount paid to the issuing registrar, as referred to in subsection (3) (c), is, subject to and in accordance with the rules:

(a) to be paid to or at the direction of the judgment creditor, and

(b) to be in reduction of the judgment debt.