Plain language law

New Zealand law explained for everyone

Building Societies Act 1965

Advances - General provisions as to advances on mortgage

44: Arrangement for excess advance in connection with sale of property

You could also call this:

"This rule about extra money for property sales no longer exists"

This part of the law used to be about making arrangements for extra money when selling property. However, it's no longer in use. The government removed this section from the Building Societies Act 1965 on 1 September 1987. This means you don't need to worry about this rule anymore because it doesn't apply now.

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This page was last updated on

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM371683.

Topics:
Money and consumer rights > Banking and loansHousing and property > Buying and selling homes
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43: Security taken from third party, or

"This old rule about building societies getting security from others no longer exists"

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45: Implied warranty on advance to purchaser, unless notice given to the contrary, or

"This rule about building societies giving money to property buyers no longer exists"

Part 3Advances
General provisions as to advances on mortgage

44Arrangement for excess advance in connection with sale of property (Repealed)

    Notes
    • Section 44: repealed, on , by section 12 of the Building Societies Amendment Act 1987 (1987 No 175).