Property Law Act 2007
Sections and provisions with full text and the judgments that cite each one.
Section 129 — Form of notice under section 128(1)
129 Form of notice under section 128(1) (1) The notice required by section 128(1) must be in the prescribed form and must adequately inform the current mortgagor of— (a) the nature and extent of the…
Section 130 — Copy of notice under section 128 must be served on former mortgagor, covenantor, and subsequent mortgagee
130 Copy of notice under section 128 must be served on former mortgagor, covenantor, and subsequent mortgagee (1) A copy of the notice served under section 128 must, as soon as possible, be served…
Section 131 — Instruments have no effect so far as they conflict with section 128, 129, or 130
131 Instruments have no effect so far as they conflict with section 128, 129, or 130 A term has no effect if it— (a) is expressed or implied in an instrument; and (b) conflicts with section 128 , 129…
Section 132 — Notice of intention to recover deficiency in relation to mortgages over goods
132 Notice of intention to recover deficiency in relation to mortgages over goods (1) This section applies if, under a mortgage over goods,— (a) the mortgagee or receiver proposes to exercise a power…
Section 133 — Instruments have no effect so far as they conflict with section 132
133 Instruments have no effect so far as they conflict with section 132 A term has no effect if it— (a) is expressed or implied in an instrument; and (b) conflicts with section 132 .
Section 134 — Conditional sale of goods permitted before expiry of notice
134 Conditional sale of goods permitted before expiry of notice (1) For the purposes of sections 128 to 132 , a mortgagee or receiver does not exercise a power to sell mortgaged goods, by reason of a…
Section 135 — Notice concerning goods not required in certain cases
135 Notice concerning goods not required in certain cases (1) Sections 128 and 132 do not apply if— (a) the goods may perish within 10 working days of the mortgagee taking possession of the goods; or…
Section 136 — Court may grant leave to exercise power of sale of goods or to claim deficiency
136 Court may grant leave to exercise power of sale of goods or to claim deficiency (1) A court may grant leave to the mortgagee or receiver under a mortgage over goods to exercise any power under…
Section 137 — Exercise of power to enter into possession
137 Exercise of power to enter into possession (1) If a mortgagee becomes entitled under a mortgage, after compliance with subpart 5 , to exercise a power to enter into possession of mortgaged land…
Section 138 — Mortgagee may not enter into or take physical possession if mortgagee has consented to lease
138 Mortgagee may not enter into or take physical possession if mortgagee has consented to lease (1) If a mortgagee has consented to a lease of all or part of the mortgaged land or goods, the…
Section 139 — When mortgagee becomes mortgagee in possession
139 When mortgagee becomes mortgagee in possession (1) A mortgagee who exercises a power to enter into possession of mortgaged land or goods in accordance with section 137 becomes a mortgagee in…
Section 140 — Mortgagees in possession of accounts receivable
140 Mortgagees in possession of accounts receivable (1) For the purposes of this Part, a mortgagee under a mortgage over accounts receivable who is entitled to receive payment of accounts receivable…
Section 141 — Mortgagee in possession of leasehold estate or interest in land or of leased goods
141 Mortgagee in possession of leasehold estate or interest in land or of leased goods (1) A mortgagee in possession of a mortgaged leasehold estate or interest in land is liable to the person for…
Section 142 — Mortgagee in possession of land may enter into lease
142 Mortgagee in possession of land may enter into lease (1) A mortgagee in possession of mortgaged land may, as lessor, enter into a lease of all or any part of the land. (2) Subsection (1) is…
Section 143 — Terms and conditions of lease entered into by mortgagee in possession
143 Terms and conditions of lease entered into by mortgagee in possession (1) A mortgagee in possession must, when entering into a lease of mortgaged land,— (a) have reasonable regard for the…
Section 144 — Extent to which lease of land entered into by mortgagee in possession is binding on certain persons
144 Extent to which lease of land entered into by mortgagee in possession is binding on certain persons (1) A lease of land entered into by a mortgagee in possession— (a) is not binding on a person…
Section 145 — Mortgagee in possession may enter into lease of mortgaged land together with other land
145 Mortgagee in possession may enter into lease of mortgaged land together with other land (1) A mortgagee in possession may enter into a lease, at a single rent, of all or part of the mortgaged…
Section 146 — Registrar-General or other person need not inquire whether occasion has arisen authorising mortgagee to enter into lease
146 Registrar-General or other person need not inquire whether occasion has arisen authorising mortgagee to enter into lease (1) The Registrar-General or any other person need not inquire whether or…
Section 147 — Mortgagee in possession of land may exercise powers under lease
147 Mortgagee in possession of land may exercise powers under lease (1) A mortgagee in possession of mortgaged land that is subject to a lease may do the following as though the mortgagee were for…
Section 148 — Mortgagee in possession may manage land, goods, or accounts receivable
148 Mortgagee in possession may manage land, goods, or accounts receivable A mortgagee in possession of mortgaged land, goods, or accounts receivable may— (a) demand and recover, by legal proceedings…
Section 149 — Mortgagee in possession of land may harvest crops and timber
149 Mortgagee in possession of land may harvest crops and timber (1) A mortgagee in possession of mortgaged land may— (a) harvest and sell any crop growing on the land; and (b) cut and sell timber…
Section 150 — Mortgagee in possession may protect or repair mortgaged land or goods
150 Mortgagee in possession may protect or repair mortgaged land or goods (1) A mortgagee in possession of mortgaged land or goods may take any proper and necessary measures for the protection,…
Section 151 — Mortgagee in possession of land liable for waste
151 Mortgagee in possession of land liable for waste A mortgagee in possession of mortgaged land is liable in damages to the following persons for loss arising from any act or omission of the…
Section 152 — Application of income received by mortgagee in possession
152 Application of income received by mortgagee in possession (1) A mortgagee in possession of mortgaged land, goods, or accounts receivable must apply all income from the land, goods, or accounts…
Section 153 — Preferential claims
153 Preferential claims (1) This section applies to a mortgagee in possession if— (a) the mortgage created a security interest that— (i) is over all or any part of an individual’s, a company’s, or an…
Section 154 — Transitional provisions relating to preferential claims
154 Transitional provisions relating to preferential claims (1) The provisions of section 104PPA of the Property Law Act 1952, as in force immediately before the commencement of the Personal Property…
Section 155 — Mortgagee in possession to account to current mortgagor
155 Mortgagee in possession to account to current mortgagor (1) A mortgagee in possession of mortgaged land, goods, or accounts receivable must account to the current mortgagor, and to every person…
Section 156 — Notice of entry into possession of mortgaged land or goods
156 Notice of entry into possession of mortgaged land or goods (1) A mortgagee, on entering into possession of mortgaged land or goods,— (a) must immediately give— (i) written notice of that fact to…
Section 157 — Address to which notice to current mortgagor must be sent
157 Address to which notice to current mortgagor must be sent (1) The notice required by section 156 must be sent to the current mortgagor— (a) at the address of the mortgagor’s place of business; or…
Section 158 — Public notice
158 Public notice In section 156 , public notice means notice published— (a) in at least 1 issue of the Gazette ; and (b) in at least 1 issue of a newspaper circulating in the following areas of New…
Section 159 — Current mortgagor to make information available and give reasonable assistance to mortgagee in possession
159 Current mortgagor to make information available and give reasonable assistance to mortgagee in possession (1) The current mortgagor of mortgaged land, goods, or accounts receivable, and, if the…
Section 160 — Accounting records
160 Accounting records (1) A mortgagee in possession of mortgaged land, goods, or accounts receivable must at all times keep accounting records that correctly record and explain the receipts,…
Section 161 — Mortgagee in possession must keep money relating to land, goods, or accounts receivable separate from other money
161 Mortgagee in possession must keep money relating to land, goods, or accounts receivable separate from other money A mortgagee in possession of mortgaged land, goods, or accounts receivable must…
Section 162 — First report by mortgagee in possession
162 First report by mortgagee in possession (1) A mortgagee who enters into possession of mortgaged land or goods must, not later than 2 months after entering into possession of the land or goods,…
Section 163 — Further reports by mortgagee in possession
163 Further reports by mortgagee in possession (1) A mortgagee in possession of mortgaged land or goods, or a person who was a mortgagee in possession of mortgaged land or goods, must prepare a…
Section 164 — Extension of time for preparing reports
164 Extension of time for preparing reports The Registrar may, on the application of a mortgagee or other person who is required to prepare a report under section 162 or 163 , extend the period…
Section 165 — Persons entitled to receive reports
165 Persons entitled to receive reports (1) A mortgagee or other person required to prepare a report under section 162 or 163 must send a copy of it— (a) to the current mortgagor, at the address of…
Section 166 — Persons entitled to inspect reports
166 Persons entitled to inspect reports A person to whom a report must be sent on request under section 165 is entitled to inspect the report during normal business hours at— (a) the mortgagee’s…
Section 167 — Duty to notify breaches of other Acts
167 Duty to notify breaches of other Acts (1) This section applies if— (a) the current mortgagor is a company or an overseas company; and (b) a mortgagee or other person who is required to prepare a…
Section 168 — Withdrawal of mortgagee from possession
168 Withdrawal of mortgagee from possession (1) A mortgagee who has exercised a power to enter into possession of mortgaged land, goods, or accounts receivable must be taken to have withdrawn from…
Section 169 — Mortgagee who has withdrawn from possession not entitled to receive income after withdrawal
169 Mortgagee who has withdrawn from possession not entitled to receive income after withdrawal (1) A mortgagee who has withdrawn from possession is not entitled to receive any income from the…
Section 170 — Withdrawal with consent of court
170 Withdrawal with consent of court (1) A court may, on the application of a mortgagee in possession, make an order consenting to the mortgagee’s withdrawal from possession of all or part of the…
Section 171 — Withdrawal by direction of court
171 Withdrawal by direction of court (1) A court may, on the application of a specified person, make an order directing a mortgagee in possession to withdraw from possession of the whole, or any…
Section 172 — Restriction on re-entry into possession after withdrawal
172 Restriction on re-entry into possession after withdrawal A mortgagee who withdraws from possession of mortgaged land, goods, or accounts receivable in a manner referred to in section 168(1) may…
Section 173 — Notice that mortgagee has withdrawn from possession
173 Notice that mortgagee has withdrawn from possession (1) If the current mortgagor is a body corporate registered under an enactment, a mortgagee who withdraws from possession of all or part of the…
Section 174 — Defences available to directors in proceedings for offences under this subpart
174 Defences available to directors in proceedings for offences under this subpart It is a defence to a director of a body corporate who is charged with an offence under this subpart if that director…
Section 175 — Application of various provisions to mortgagees who entered into possession before commencement of Act
175 Application of various provisions to mortgagees who entered into possession before commencement of Act If a person became a mortgagee in possession of mortgaged property before 1 January 2008,—…
Section 176 — Duty of mortgagee exercising power of sale
176 Duty of mortgagee exercising power of sale (1) A mortgagee who exercises a power to sell mortgaged property, including exercise of the power through the Registrar under section 187 , or through a…
Section 177 — No defence or indemnity
177 No defence or indemnity (1) It is not a defence to a proceeding against a mortgagee for a breach of the duty imposed by section 176 that the mortgagee was acting as the agent of, or under a power…
Section 178 — Powers incidental to power of sale
178 Powers incidental to power of sale (1) If, under a mortgage and subpart 5 , a mortgagee or receiver becomes entitled to exercise a power to sell mortgaged property, the sale— (a) may relate to…