Victorian Current Acts

PROPERTY LAW ACT 1958 - SECT 224

Despite anything to the contrary in any instrument creating a security interest, the severing of a joint tenancy in accordance with this Part—

        (a)     does not constitute a breach of the covenants or terms of that instrument; and

        (b)     does not affect any existing powers, rights or interests of the holder of a security interest over the property to which that severance relates.

Division 2—Sale and division

S. 225 substituted by No. 71/2005 s. 5.