Section 194 — Property Law Act 2007: Registrar’s fees, expenses, and commission

194 Registrar’s fees, expenses, and commission (1) A vendor mortgagee who applies for a sale under section 187 must pay to the Registrar— (a) the prescribed fee payable on the making of the application; and (b) the reasonable expenses of, and incidental to, the conduct of the sale (whether or not the land is in fact sold); and (c) if the land is sold, a further fee of one-quarter of 1% of the purchase money, but the further fee must not be less than the minimum fee, and not more than the maximum fee, prescribed for the purposes of this paragraph. (2) In subsection (1)(c), purchase money includes, in the case of a sale subject to any mortgage or other encumbrance having priority over the vendor mortgagee’s mortgage, the amounts secured by that mortgage or other encumbrance to the extent that the security for those amounts has priority at the time of the sale. Compare: 1952 No 51 s 103