Victorian Consolidated Legislation

Property Law Act 1958 - SECT 89

When section 88 takes effect

89. When section 88 takes effect

The last preceding section shall take effect without prejudice to any prior
incumbrance or trust affecting the nominal reversion and shall apply whether
the mortgage deed was or is executed before or after the date aforesaid, but
shall not apply where the mortgage term does not comprise the whole of the
land included in the leasehold reversion unless the rent (if any) payable in
respect of that reversion has been apportioned as respects the land conveyed
or the rent is of no money value or no rent is reserved and unless the
covenants (if any) entered into for the benefit of the reversion have been
apportioned (either expressly or by implication) as respects the land
conveyed; and in the said section mortgagee shall include any person entitled
to exercise the statutory or other power of sale.