Western Australian Current Acts Western Australian Current Acts (1) The receipt in
writing of a mortgagee is a sufficient discharge for any money arising under
the power of sale conferred by this Part, or for any money or securities
comprised in his mortgage, or arising thereunder; and a person paying or
transferring the money or securities to the mortgagee shall not be concerned
to inquire whether any money remains due under the mortgage or as to the
application of the money or securities so paid or transferred.
(2) Money received by
a mortgagee under his mortgage or from the proceeds of securities comprised in
his mortgage shall be applied in like manner as in this Part directed
respecting money received by him arising from a sale under the power of sale
conferred by this Part, except 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.