Queensland Consolidated Acts

ALL SAINTS CHURCH LANDS ACT 1960 - SECT 7

7 Powers of mortgage

(1) Any mortgage referred to in this Act may contain a power of sale by the mortgagee, the mortgagee’s executors, administrators or assigns in case of default in payment of any principal or interest moneys secured by such mortgage, or of breach of any of the conditions therein contained.

(2) In the due exercise of such power the mortgagee may, and is hereby empowered to, sell the land comprised in such mortgage for an estate in fee simple absolutely freed and discharged from the trusts upon and subject to which such land is held by the trustees.