Section 108 — Property Law Act 2007: Court may make order directing sale of mortgaged property
Text of the provision Official document
108 Court may make order directing sale of mortgaged property (1) A court may, on an application under section 107 , make an order directing the sale of the mortgaged property. (2) An order may be made under this section— (a) without allowing time for the redemption of the property in accordance with sections 97 to 101 ; and (b) without first determining the priority of any mortgages or other encumbrances over the property; and (c) even if a person who has an interest in the property or in the mortgage— (i) is not before the court; or (ii) opposes the making of the order. (3) The court may make an order under this section on any conditions the court thinks fit, including the deposit in court of a reasonable sum fixed by the court to meet the expenses of the sale or to secure the performance of any other condition of the order. (4) The court may order that the sale be conducted by any party to the proceeding or by the Registrar. Compare: 1952 No 51 s 86(2)–(4)
Official source: legislation.govt.nz
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