| Ward v Smart So Hoe Pty Ltd (VSC) - real property - possession - plaintiff entitled to order for possession and payment of debt based on mortgage - judgment for plaintiff |
| Summaries With Link (Five Minute Read) |
Ward v Smart So Hoe Pty Ltd [2015] VSC 691
Supreme Court of Victoria
Ierodiaconou AsJ
Real property - possession - plaintiff advanced sum to first defendant under loan agreement with obligations guaranteed by second defendant - second defendant mortgaged property to to plaintiff as collateral - first defendant fell into arrears - plaintiff issued notice of default under s76 Transfer of Land Act 1958 (Vic) - plaintiff sought possession of property and judgment for mortgage debt - second defendant counterclaimed for redemption - ss77 & 78 - held: default notice on balance invalid with result it was insufficient to accelerate payment of loan - there had not been redemption - preconditions of s78(1) met - plaintiff entitled to possession - plaintiff entitled to payment of debt based on mortgage - judgment for plaintiff.
Ward
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