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Building Societies Act 1965

Advances - General provisions as to advances on mortgage

50: Provisions as to sale of mortgaged property

You could also call this:

"Rules for selling houses with mortgages (no longer used)"

This part of the Building Societies Act 1965 was about how to sell property that had a mortgage on it. However, this section no longer exists in the law. It was removed on 1 September 1987. This means that the rules about selling mortgaged property that were once in this section are no longer in effect. If you need to know about current rules for selling mortgaged property, you would need to look at newer laws or regulations.

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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=DLM371695.

Topics:
Money and consumer rights > Banking and loansHousing and property > Buying and selling homes
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51: Limitation on advances on security of members' shares, or

"Old rule about lending money based on members' shares no longer exists"

Part 3Advances
General provisions as to advances on mortgage

50Provisions as to sale of mortgaged property (Repealed)

    Notes
    • Section 50: repealed, on , by section 12 of the Building Societies Amendment Act 1987 (1987 No 175).