New South Wales Consolidated Acts

CONVEYANCING ACT 1919 - SECT 104

104 Mortgaged property may be sold or leased together at one price or rent

(1) In the exercise by the mortgagee of a power of sale or lease contained or implied in any mortgage--

(a) the mortgaged premises or any part thereof, may be sold or leased, together with any other land or property of whatsoever nature or tenure which is the subject of the mortgage or of any collateral security from the mortgagor to the mortgagee by one sale or lease at one price or rent; and in such case--

(b) the mortgagee shall fairly and equitably apportion all costs, expenses, purchase moneys, and rents between the properties sold or leased.

(2) A failure by the mortgagee to make such apportionment shall not affect the purchaser or lessee, nor the title to the property in the purchaser or lessee's hands.

(3) This section extends to any case in which the whole or any part of any land the subject of the sale or lease is under the provisions of the Real Property Act 1900 .

(4) This section applies to sales and leases made after the commencement of this Act under mortgages, whether made before or after the commencement of this Act.