Queensland Consolidated Acts

LAND ACT 1994 - SECT 70

70 Sale by mortgagee in possession

(1) If a mortgagee complies with section 68 , the mortgagee may sell the deed of grant in trust.

Note—

Section 68 is about the notice a mortgagee in possession must give before exercising powers under the mortgage.

(2) The mortgagee must first offer the deed of grant in trust for sale by public auction.

(3) The deed of grant must not be offered for sale by public auction until at least 28 days after the mortgagee has published a notice that the land 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 land.

Examples of ways a notice may be published under subsection (3)—

• displaying the notice on the land 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 land

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

(4) The mortgagee is authorised to sign a surrender of the deed of grant in trust.