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Papers > Foreign > property law
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property law |
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... C’s interest is afforded protection under s 42(1)(d) Real Property Act as an exception to indefeasibility, which creates an legal interest in Redacre (Deventer Pty Ltd v BP Australia Ltd (`983) ANZ ConvR 311- check citation p244 Butterworths). ... No provision in the Real Property Act requires the holder of an unregistered interest to lodge a caveat to preserve the interest’s priority. ... Although the mortgage was void at common law because of forgery, this defect was cured by the registration of the mortgage, and thereupon the mortgage bound the registered proprietor whose signature had been forged. ... The negligence standard requires the mortgagee to take reasonable care to obtain the true market value for the mortgagor’s property when exercising the power of sale, whereas the good-faith test requires the mortgagee to act in good faith without fraud and without wilfully or recklessly sacrificing the mortgagor’s interest. ... Titan has caused the property to be advertised four times over a one-month period in the local paper. ... Further, the advertisement adequately identified the development potential of the property (Pendlebury), referring to it as a "demolition delight", which in light of the severe damage, is an accurate portrayal. However, on the facts it does not appear that the advertisement fully described the property. The purpose of advertising is to bring the property to the attention of any prospective purchasers to secure a fair price (Pendulbury at 683). It is dubious as to whether the advert achieved this as it made no mention of the size, nature or location of the property, nor any other advantageous features (Cuckmere Brick Co Pendlebury). ... The relevant date for judging if such a standard has been adhered to is the date of sale Titan will not be able to exonerate themselves from liability by claiming that sale by auction achieves an amount equivalent to market value (page 541 Prop law in NSW Cuckmere? ... Titan cannot discharge its duty in exercising the power of sale merely through their employment of W, since the duty requires the mortgagee not only to select a competent contractor but also to give adequate instructions, and to exercise some surveillance over the contracto or to inspect work heis doing Commercial and General Acceptance Ltd v Nixon (1981) 152 CLR 498 - 500 It has been held that where an advert is published in the locality in which the property is situated, the advertisement need not specify so much as to the “situation and qualities of the land” (Pendlubury at 697), however it is questionable as to whether this reasoning would still be applicable where society is now so much more modern and more houses. |
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Title: property law
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