Enforcement of Mortgage
A few years ago we settled a court action. One of the terms required the enemy to pay a further $25,000.00 within 5 years. We secured the obligation with a mortgage. The payment was due this week, but was not paid. Under the terms of the mortgage, our clients can now appoint a receiver to […]
Speedy Settlement
An old client came to us last week seeking independent advice on loan contract, guarantees and mortgages being given as security for a loan. The deal involved borrowing just over $175k for 6 months, but only receiving $150k after application fees, interest paid in advance and legal fees, on top of our fees for the […]
BUYERS (NEEDING FINANCE) BEWARE!
On 15 June 2011, the Court of Appeal of the WA Supreme Court in Dodds -v- Kennedy [No 2] [2011] WASCA 131 made some rulings in relation to the clause 1 of the Standard REIWA/Law Society Contract for Sale of Land by Offer and Acceptance that may surprise many in the Real Estate, Banking, Mortgage […]