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BUILDING INDUSTRY FAIRNESS (SECURITY OF PAYMENT) ACT 2017 - SECT 100H
Effect of court order
100H Effect of court order
(1) An order for the sale of relevant property made under section 100G — (a)
authorises the sale of the property free of all encumbrances affecting the
property, other than the encumbrances the court preserves in its order; and
(b) has effect despite— (i) any encumbrances affecting the property; or
(ii) any Act, other than this Act.
(2) A person appointed by the court as the
claimant’s agent has the power to convey the relevant property to a
purchaser and to do all things necessary to effect the conveyance.
(3)
Subsections (4) and (5) apply if the claimant sells the relevant property
under a court order made under section 100G .
(4) On lodgement of the
appropriate form under the Land Title Act 1994 , the registrar of titles must
register the transfer of the interest of the registered owner to the purchaser
free of all encumbrances other than those preserved in the relevant court
order.
(5) On settlement, the claimant is to apply the sale proceeds in the
following order— (a) paying the sale costs and the claimant’s costs in
seeking the order for sale;
(b) paying amounts to satisfy any registered
encumbrances, including the charge registered under section 100B , in order of
their priority under the Land Title Act 1994 ;
(c) paying the balance to the
registered owner of the relevant property or to someone else at the owner’s
direction.
(6) In this section—
"encumbrance" , affecting relevant property, means— (a) a mortgage, lien or
charge over the property; or
(b) a caveat claiming an interest over the
property by way of security; or
(c) a writ affecting the property.
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