Queensland Consolidated Acts

LAND ACT 1994 - SECT 346

346 Sale of mortgaged lease

(1) The mortgagee must first offer the lease for sale by public auction or with the Minister’s written approval may sell the lease by private contract.

(2) The lease must not be offered for sale by public auction or a contract of sale entered into until at least 28 days after the mortgagee has published a notice that the lease is for sale, in a way the mortgagee considers is reasonably likely to come to the attention of members of the public in the locality of the lease.

Examples of ways a notice may be published under subsection (2)—

• displaying the notice on the land the subject of the lease so the notice is conspicuous and easily visible to members of the public from a place other than the land

• publishing the notice in a newspaper circulating generally in the locality of the lease

• publishing the notice in an online local newspaper for the locality of the lease

(3) A sale by a mortgagee must be to a person qualified under this Act to hold the lease.

(4) The lodgement of the transfer must be accompanied by a statutory declaration signed by the incoming lessee stating the incoming lessee is aware of—

(a) the condition of the land; and

(b) the level of compliance with the conditions of the lease and any land management agreement for the lease; and

(c) any current property vegetation management plan affecting the lease; and

(d) any current agreement under an Act affecting the lease including any land management agreement.