Victorian Consolidated Legislation

Transfer of Land Act 1958 - SECT 46

Transfer to include right to sue

46. Transfer to include right to sue



(1) By virtue of every such transfer the right to sue upon any instrument and
to recover any debt sum of money annuity or damages thereunder
(notwithstanding that it constitutes a chose in action) and all interest in
any such debt sum annuity or damages shall be transferred so as to vest at law
as well as in equity in the transferee thereof; but nothing herein shall
prevent a court from giving effect to any trusts affecting such debt sum
annuity or damages if the transferee as between himself and any other person
holds as trustee.



(2) In every such transfer of land which is subject to a mortgage or annuity
there shall be implied a covenant with the transferor by the transferee
binding the latter to pay the interest secured by the mortgage at the rate and
times and in the manner specified in the mortgage, or to pay the annuity at
the times and in the manner specified in the instrument of charge, and in the
case of land subject to a mortgage to indemnify the transferor against all
liability in respect of the principal sum secured by the mortgage and any of
the covenants therein contained or by this Act declared to be implied therein
on the part of the transferor.