Queensland Consolidated Acts
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PROPERTY LAW ACT 1974 - SECT 90
Mortgagee’s receipts discharges etc.
90 Mortgagee’s receipts discharges etc.
(1) The receipt in writing of a mortgagee shall be a sufficient discharge for
any money arising under the power of sale conferred by this Act, or for any
money or securities comprised in the mortgagee’s mortgage, or arising under
the mortgage, and a person paying or transferring the same to the mortgagee
shall not be concerned to inquire whether any money remains due under the
mortgage or to see to the application of the money or securities so paid or
(2) Money received by a mortgagee under the mortgagee’s
mortgage or from the proceeds of securities comprised in the mortgagee’s
mortgage shall be applied in like manner as in this Act directed respecting
money received by the mortgagee arising from a sale under the power of sale
conferred by this Act, but with this variation, that the costs, charges, and
expenses payable shall include the costs, charges, and expenses properly
incurred of recovering and receiving the money or securities, and of
conversion of securities into money, instead of those incident to sale.
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