South Australian Current Acts South Australian Current Acts140—Application by mortgagee to Registrar-General for foreclosure
(1) When default has
been made for six months in the payment of the principal or interest secured
by any mortgage, the mortgagee may make application, in writing, to the
Registrar-General for an order for foreclosure.
(2) Such application
shall state that such default has been made as aforesaid, and that the land
mortgaged has been offered for sale at public auction by a licensed
auctioneer, after notice given to the mortgagor, as in this Act or by the
mortgage provided; that the amount of the highest bid at such sale was not
sufficient to satisfy the money secured by such mortgage, together with the
expenses occasioned by the attempted sale; and that notice in writing of the
intention of the mortgagee to make such application has been served on the
mortgagor, by being given to him or by being left on the mortgaged land, or by
the same being sent through the post office by a registered letter directed to
him at his address appearing in the Register Book; and also that a like notice
of such intention has been served on every person appearing by the
Register Book to have any estate or interest in the mortgaged land,
subsequently to such mortgage, by being given to him or sent through the post
office by a registered letter directed to him at his address appearing in the
Register Book; and such application shall be accompanied by a certificate of
the licensed auctioneer by whom such land was put up for sale, and such other
proof of the matters stated by the applicant as the Registrar-General may
require; and the statements made in such application shall be verified by
declaration.