South Australian Current Acts South Australian Current ActsIn this Act unless inconsistent with the context or subject-matter or some
other meaning is clearly intended—
"bankruptcy" includes insolvency and liquidation by arrangement and also any
other act or proceeding in law having under any law for the time being in
force effects or results similar to those of bankruptcy;
"building purposes" includes the erecting and improving of and the adding to,
and the repairing of buildings; and a "building lease is a lease for
building purposes or purposes connected therewith;
"conveyance" includes a mortgage, charge, lease, assent, vesting declaration,
disclaimer, release, surrender, extinguishment and every other assurance of
property or of an interest therein by any instrument, except
a will; "convey" has a corresponding meaning;
"court" means—
(a) the
Supreme Court; or
(b) the
District Court; or
(c) if
the proceedings involve property with a value not exceeding the amount by
reference to which the jurisdictional limit of the Magistrates Court is fixed
for actions to obtain or recover title to, or possession of, real or personal
property—the Magistrates Court;
"disposition" includes a conveyance and also a devise, bequest,
or an appointment of property contained in a will; and "dispose of" has a
corresponding meaning;
"income" includes rents and profits;
"incumbrance" includes a legal or equitable mortgage and a trust for securing
money, and a lien, and a charge of a portion, annuity, or
other capital or annual sum; and "incumbrancer" has a meaning corresponding
with that of incumbrance, and includes every person entitled to the benefit of
an incumbrance, or to require payment or discharge thereof;
"instrument" includes deed and will but does not include a statute, unless the
statute creates a settlement;
"interest" in property means a legal or equitable interest;
"land" includes land of any tenure, and mines and minerals whether or not held
apart from the surface, buildings or parts of buildings (whether the division
is horizontal, vertical or made in any other way) and other corporeal
hereditaments; also a rent and other incorporeal hereditaments, and an
easement, right, privilege, or benefit in, over, or derived from the land
and also an undivided share in land; and "mines and minerals" include any
strata or seam of minerals or substances in or under any land, and powers of
working and getting the same;
"limitation" includes a trust;
"mentally incapacitated person" has the same meaning as in the
Guardianship and Administration Act 1993 ;
"mining lease" means a lease for mining purposes, that is the searching for,
winning, working, getting, making merchantable, carrying away, or disposing of
mines and minerals, or purposes connected therewith, and includes a grant or
licence for mining purposes;
"mortgage" includes any charge or lien on any property for
securing money or money's worth; "mortgage money" means money or
money's worth secured by a mortgage; "mortgagor" includes any person from time
to time deriving title under the original mortgagor or entitled to redeem a
mortgage according to his estate interest or right in the mortgaged
property; "mortgagee" includes any person from time to time deriving
title under the original mortgagee; and "mortgagee in possession" is, for the
purposes of this Act, a mortgagee who, in right of the mortgage, has entered
into and is in possession of the mortgaged property; and "right of redemption
includes an option to repurchase only if the option in effect creates a right
of redemption;
"notice" includes constructive notice;
"personal representative" means the executor, original or by representation,
or administrator for the time being of a deceased person;
"possession" includes receipt of rents and profits or the right to receive the
same (if any);
"property" includes any thing in action, and any interest in real or personal
property;
"purchaser" means a purchaser in good faith for valuable consideration and
includes a lessee, mortgagee or other person who for valuable consideration
acquires an interest in property except that where so expressly
provided "purchaser" means a person only who acquires an interest in or charge
on property for money or money's worth; and where the context so
requires "purchaser" includes an intending purchaser;
"purchase" has a meaning corresponding with that of
"purchaser"; and "valuable consideration" includes marriage but does not
include a nominal consideration in money;
"registered land" means land which is subject to the Real
Property Act 1886 ; and "registrar" means the Registrar-General under
that Act;
"rent" includes a rent service or a rent charge, or other rent toll, duty,
royalty, or annual or periodical payment in money or money's worth, reserved
or issuing out of or charged upon land, but does not include mortgage
interest; "rent charge" includes a fee farm rent; "fine" includes a premium or
foregift and any payment consideration, or benefit in the
nature of a fine, premium or foregift; "lessor" includes an under-lessor and a
person deriving title under a lessor or under-lessor; and
"lessee" includes an under-lessee and a person deriving title under
a lessee or under-lessee, and "lease" includes an under-lease or other
tenancy;
"representative" means an executor or administrator, and includes the Public
Trustee in cases where the Supreme Court shall have authorised him to
administer the estate of a deceased person;
"sale" means a sale properly so called;
"securities" include stocks, funds and shares;
"trust for sale" in relation to land, means an immediate binding
trust for sale, whether or not exercisable at the request or with the consent
of any person, and with or without a power at discretion to postpone the
sale; "trustees for sale" means the persons (including a personal
representative) holding land on trust for sale; and "power to postpone a sale
means power to postpone in the exercise of a discretion;
"vest", in relation to property, means to vest in interest or possession.
Example—
For example, an interest in remainder vests in interest when—
(a) the
persons who are to take the interest are ascertainable; and
(b) the
vesting in possession of the interest is dependent only on the determination
of prior interests and no other contingency.