Victorian Consolidated Legislation

Instruments Act 1958 - SECT 77

Transfers of liens and mortgages

77. Transfers of liens and mortgages

Every such registered lien of wool and every such registered mortgage of stock
shall be assignable at law by writing; and the assignee thereof respectively
may bring every such action thereupon or in respect thereof in his own name,
and shall have and may exercise the same right title and interest powers and
authorities as the original lienee or mortgagee could have brought would have
had or might have exercised if no assignment had been made by him. It shall be
lawful for any mortgagor of stock with the consent in writing of the mortgagee
thereof, but not without such consent, to make and give a valid lien on the
next ensuing clip of the wool of the stock included in the mortgage.