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StatuteProperty Law Act 2007

Section 191 — Property Law Act 2007: Advertising of sale

Text of the provision Official document

191 Advertising of sale (1) The Registrar must, for the purposes of section 190 , give notice of the sale that the Registrar considers sufficient by advertisement in a newspaper circulating in the locality in which the land proposed to be sold is situated. (2) However, if the Registrar considers that, by reason of the character of the land, advertisement in a newspaper circulating only in that locality is unlikely to enable the vendor mortgagee to discharge the duty of care under section 176(1) , the Registrar must give notice of the sale that the Registrar considers sufficient by advertisement also in newspapers circulating in any other localities that the Registrar thinks fit. (3) The High Court may, on the application of a specified person, direct the Registrar to undertake further or other advertising of the sale, or marketing of the land, that the High Court thinks fit. (4) In subsection (3), specified person means— (a) the current mortgagor; or (b) the vendor mortgagee; or (c) any other person who has an interest in the proposed sale. (5) This section does not prevent the vendor mortgagee from carrying out more extensive advertising of the sale or marketing of the land proposed to be sold than is undertaken by the Registrar or directed by the court. (6) Costs reasonably incurred by the vendor mortgagee for the purpose referred to in subsection (5) are, for the purposes of sections 87 , 88 , 152 , 153 , and 185 , amounts reasonably paid or advanced by the mortgagee with a view to the realisation of the security. Compare: 1952 No 51 s 99(2)(c)

Official source: legislation.govt.nz

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Statutory text from an official public source. Informational content — does not replace advice from a qualified lawyer.