Queensland Consolidated Acts

LAND ACT 1994 - SECT 288C

288C Effect of registration of mortgage under Land Title Act 1994

(1) This section applies if a mortgage (the
"relevant mortgage" ) to which section 288A (2) applied, or that was the subject of a transfer to which section 288B (2) applied, becomes registered under the Land Title Act 1994 on the issue of a deed of grant under this Act.

Example—

Under section 458 (2) , a deed of grant is issued subject to a mortgage to which section 288A (2) applied.

(2) Sections 288A and 288B continue to have effect in relation to the mortgage or transfer as if the mortgage were still registered under this Act.

(3) However, the Land Title Act 1994 , sections 185 (1A) and 189 (1) (ab) have effect in relation to the mortgage.

(4) For applying subsection (3) —

(a) the references in the Land Title Act 1994 , section 185 (1A) (a) and (b) to the instrument of mortgage or amendment of mortgage are taken to be references to the relevant mortgage; and

(b) the references in the Land Title Act 1994 , sections 185 (1A) (a) and 189 (1) (ab) to sections 11A (2) and 11B (2) of that Act are taken to be references to sections 288A (2) and 288B (2) respectively of this Act; and

(c) the reference in the Land Title Act 1994 , section 185 (1A) (b) to the registered proprietor of the lot or the interest in a lot is taken to be a reference to the lessee of the lease or the sublessee of the sublease.