South Australian Current Acts

REAL PROPERTY ACT 1886 - SECT 129A

129A—Standard terms and conditions of mortgage or encumbrance

        (1)         A person may deposit for filing in the Lands Titles Registration Office a document containing terms and conditions for incorporation as standard terms and conditions in mortgages or encumbrances under this section.

        (2)         A mortgage or encumbrance may provide that standard terms and conditions, as contained in a document deposited in the Lands Titles Registration Office under subsection (1)—

            (a)         are incorporated in the mortgage or encumbrance; or

            (b)         are incorporated in the mortgage or encumbrance subject to exclusions or amendments specified in the mortgage or encumbrance,

and, in that event, the mortgage or encumbrance has effect as if those terms and conditions were (subject to any exclusions or amendment specified in the mortgage or encumbrance) contained in the mortgage.

        (3)         Where a mortgage or encumbrance makes provision for incorporation of standard terms and conditions (either with or without exclusions or amendments), the mortgagee or encumbrancee must, before execution of the mortgage or encumbrance by the mortgagor or encumbrancer, provide him or her with a copy of the standard terms and conditions.

        (4)         Non-compliance with subsection (3) does not affect the validity or effect of a mortgage or encumbrance.