A changing landscape : The mortgagee's power of sale in Queensland
In Australia, the extent of a mortgagee’s duty when exercising power of sale has long been the subject of conjecture. With the advent of the global financial crisis in the latter part of 2008, there has been some concern to ensure that the interests of mortgagors are adequately protected. In Queensland, concern of this type resulted in the enactment of the Property Law (Mortgagor Protection) Amendment Act 2008 (Qld). This amending legislation operates to both extend and strengthen the operation of s 85 of the Property Law Act 1974 (Qld) which regulates the mortgagee’s power of sale in Queensland. This article examines the impact of this amending legislation which was hastily introduced and passed by the Queensland Parliament without consultation and which introduces a level of prescription in relation to a sale under a prescribed mortgage which is without precedent elsewhere in Australia.
Impact and interest:
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|Item Type:||Journal Article|
|Keywords:||mortgagee power of sale|
|Subjects:||Australian and New Zealand Standard Research Classification > LAW AND LEGAL STUDIES (180000) > LAW (180100) > Property Law (excl. Intellectual Property Law) (180124)|
|Divisions:||Current > QUT Faculties and Divisions > Faculty of Law|
|Copyright Owner:||Copyright 2009 the authors|
|Deposited On:||01 Jul 2011 01:02|
|Last Modified:||01 Mar 2012 01:01|
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