Land And Conveyancing Law Reform Act 2009

94.

Court order for sale.

94.— (1) This section applies to any action brought by a mortgagor for—

( a) redemption, or

( b) sale, or

( c) the raising and payment in any manner of the mortgage debt, or

( d) any combination of these in the alternative.

(2) In any action to which this section applies the court may, if it thinks fit, direct a sale of the mortgaged property on such terms as it thinks fit.

(3) Without prejudice to the generality of the court’s discretion under subsection (2) , it may—

( a) allow any time for redemption or payment of the mortgage debt,

( b) require lodgment in court of a sum to meet the expenses of a sale and to secure a performance of its terms,

( c) give directions as to costs and require the giving of security for costs,

( d) direct a sale without previously determining priorities of incumbrances,

( e) give the conduct of the sale to a particular party,

( f) make a vesting order conveying the mortgaged property to a purchaser or appoint a person to make such a conveyance.

(4) Except in the case of a housing loan mortgage, this section takes effect subject to the terms of the mortgage.