Queensland Property Law Act 2023
Chapter 5: Mortgages (mortgagee powers and duties, mortgagor rights) – Queensland Property Law Act 2023

Queensland Property Law Act 2023 113-114: Mortgagee's implied powers and the 30-day default notice before a power of sale

What does 113-114 require?

A mortgagee has the implied powers in section 113 (sell, insure, appoint a receiver, cut and sell timber as the section provides, and the others listed), subject to the mortgage. A mortgagee must not exercise a power of sale unless a default has happened and the mortgagee has given the mortgagor a notice stating the nature of the default and requiring it to be remedied within 30 days, and the default has not been remedied within that period, with the notice in the approved form where one is approved under section 234; section 115 governs sale where onerous property is disclaimed.

Maintained by Gerard Blokdyk

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