Crocombe v Pine Forests of Australia Pty Ltd (No 3) [2007] NSWSC 217

Crocombe v Pine Forests of Australia Pty Ltd (No 3) [2007] NSWSC 217

The order that land held by numerous tenants in common be consolidated under a single title vested in trustees for sale (under s 66G Conveyancing Act 1919 and s 138 Real Property Act 1900) is proper. Although mortgagees of individual undivided shares lose registered interest on the land, their rights are preserved as claims against the sale proceeds, in accordance with statutory and common law principles.

Jurisdiction
Australia
Judgment Date
08 March 2007
Procedural Posture
Corporeal Property/investment Scheme Winding Up / Interlocutory Application/order in Winding Up Proceedings
Outcome
Application granted; orders made in accordance with amended interlocutory process.
Legal Topics
['torrens Title' 'tenants in Common' 'partition and Sale' 'winding Up Unregistered Managed Investment Scheme']
['real Property' 'corporations' 'equity'] ['torrens Title' 'tenants in Common' 'partition and Sale' 'winding Up Unregistered Managed Investment Scheme']

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Procedural Posture

Corporeal Property/investment Scheme Winding Up / Interlocutory Application/order in Winding Up Proceedings

Legal Issues

  1. 1 ['Whether trustees for sale of land held by co-owners may obtain new consolidated title free of encumbrances affecting undivided shares' 'Whether mortgagees of undivided shares lose registered interests and become entitled only to proceeds of sale']

Ratio Decidendi

The order that land held by numerous tenants in common be consolidated under a single title vested in trustees for sale (under s 66G Conveyancing Act 1919 and s 138 Real Property Act 1900) is proper. Although mortgagees of individual undivided shares lose registered interest on the land, their rights are preserved as claims against the sale proceeds, in accordance with statutory and common law principles.

Court Disposition

Application granted; orders made in accordance with amended interlocutory process.

Orders

  • ['Existing certificates of title to be cancelled and new consolidated certificate issued to trustees for sale under s 66G Conveyancing Act 1919 and s 138 Real Property Act 1900.' 'Trustees to circulate notice to all owners and known mortgagees alerting them to cancellation and that their rights attach to sale...