PROPERTY LAW ACT 1974 - SECT 100
Realisation of equitable charges by the court
PROPERTY LAW ACT 1974 - SECT 100
Realisation of equitable charges by the court
100 Realisation of equitable charges by the court
(1) Where an order for sale is made by the court in reference to an equitable
mortgage of land the court may, in favour of a purchaser, make an order
vesting the land or may appoint a person to convey the land or create and vest
in the mortgagee a legal estate in the land to enable the mortgagee to carry
out the sale, as the case may require, in like manner as if the mortgage had
been created by instrument or deed by way of legal mortgage, but without
prejudice to any encumbrance having priority to the equitable mortgage unless
the encumbrancee consents to the sale.
(2) This section applies to equitable
mortgages whether made or arising before or after the commencement of this
Act.
