South Australian Current Acts South Australian Current Acts97—Transferee of land subject to mortgage or encumbrance to indemnify
transferor
In every instrument transferring land mortgaged or encumbered there shall be
implied the following covenant by the transferee with the transferor, and so
long as such transferee shall remain the registered proprietor, with the
mortgagee or encumbrancee, that is to say—That the transferee will pay
the principal, interest, and other moneys secured by such mortgage or
encumbrance, after the rate and at the time or times specified therein, and
will indemnify and keep harmless the transferor from and against such
principal, interest, and other moneys and from and against all liability in
respect of any of the covenants contained in such mortgage or encumbrance or
by this Act implied on the part of the transferor.