Mortgagee sales can be problematic for both mortgagees and purchasers. Yet, to date, all mortgagee sales have been completed on non-standard forms prepared by the mortgagee’s lawyer. ADLSI is releasing two standard mortgagee sale forms: Particulars and Conditions of Sale for a Non-Registrar’s Sale; and Particulars and Conditions of Sale for a Registrar’s Sale. The Registrar’s Sale form has been approved by the Registrar of the High Court.
Lawyers on both sides of the transaction will find these forms and this On Demand webinar useful. They can advise purchasers knowing that the forms have not been amended to include any unusual clauses. Equally, they can be confident the forms contain the key elements to protect mortgagees.
Where appropriate, the forms have been brought into line with the other ADLS standard terms for purchase of real estate at auction and contain three broad categories of conditions relating to:
- the conduct of the sale;
- the description of the property and the warranties (or lack of warranties) provided by the mortgagee; and
- the regulation and mechanics of risk / settlement / notices relating to the settlement after the auction.
A preview of the new forms will be provided.
- Become familiar with the new forms.
- Refresh your knowledge of mortgagee sales.
- Learn about the fishhooks to avoid during the mortgagee sale process.
- Receive other practical tips to help ensure mortgagee sales progress smoothly.
Who should view?
Property lawyers acting for both mortgagees and purchasers.
On Demand feedback received
“On Demand recorded webinars are the way of the future”.
“I love the convenience of being able to stay at my desk and learn!”.
“Love On Demand with the interactive CPD component. Very user friendly and I am able to do outside of normal office hours and at home”.
Watch On Demand
To view the On Demand full version below, please use your password provided on purchase.
- file size ~360MB
- appropriate for broadband connections
- also compatible with smartphones and tablets
Click here to preview
Note that, purchases of On Demand items will be processed during normal business hours. This process includes sending you a password via email to enable you to access the full version.
Principal, Sanderson Weir
(and drafter of the forms)
Jonathan is a property, banking and finance law specialist with over 30 years’ experience. Jonathan is a member of ADLSI’s Documents and Precedents Committee and is the author of the ADLSI Mortgagee Sale Forms and co-author of the mortgagee sales section of the legal practice manual. Jonathan established Sanderson Weir in 2001 as a law firm specialising in the law of mortgages.