Victorian Current Acts

TRANSFER OF LAND ACT 1958 - SECT 75

In every such mortgage there shall be implied covenants and powers—

        (a)     that the mortgagor will pay the principal money therein mentioned on the day therein appointed, and will so long as the principal money or any part thereof remains unpaid pay interest thereon or on so much thereof as for the time being remains unpaid at the rate and on the days and in the manner therein specified;

        (b)     that the mortgagor will repair and keep in repair all buildings or other improvements which have been or are erected or made upon the mortgaged land;

        (c)     that the mortgagee may at all reasonable times until the mortgage is redeemed enter into and upon the land with or without surveyors or others to view and inspect the state of repair of such buildings or improvements;

        (d)     that the mortgagor will insure in or to the effect of the terms in the Fifteenth Schedule.

S. 75A inserted by No. 6544 s. 6(1), amended by Nos 9324 s. 4(1), 9976 s. 11, 80/2009 s. 40 (ILA s. 39B(1)).