CONFISCATION ACT 1997 - SECT 19B What must be included in a declaration of property interests?

CONFISCATION ACT 1997 - SECT 19B

    (1)     A person who has been given a notice under section 19A must provide a written declaration of property interests that states whether that person—

        (a)     has an interest in the property; and

        (b)     believes that any other person has an interest in the property.

S. 19B(1A) inserted by No. 68/2010 s. 8(1).

    (1A)     If the person making the declaration of property interests states that the person has an interest in the property, the person must also state in the declaration the nature and extent of that interest, including—

        (a)     in relation to a mortgage, the current value of the debt secured by the mortgage;

        (b)     in relation to any security interest other than a mortgage, the current value of the debt secured by the interest in the property.

S. 19B(2) amended by No. 68/2010 s. 8(2).

    (2)     If the person making the declaration of property interests believes that any other person has an interest in the property, the person making the declaration must state in the declaration to the best of his or her knowledge the name and address of every other person who has an interest in the property.

Notes to s. 19B inserted by No. 68/2010 s. 8(3).

Notes

1     An interest in property is defined in section 3(1) as meaning—

(a)     a legal or equitable estate or interest in the property; or

(b)     a right, power or privilege over, or in connection with, the property.

2     The nature of an interest in land, for example, may be an interest in fee simple, a leasehold interest or a security interest such as a mortgage.

3     The extent of an interest, for example, may be the whole of the property or some lesser specified interest, such as a half-interest as a tenant in common.

S. 19C inserted by No. 63/2003 s. 8.