New Zealand Case Law: Decisions & Judgments | LexChat

Topic

Lease binding on mortgagee

Legal area

Court

17 May 2012

CHEN V ANZ NATIONAL BANK LIMITED HC AK CIV-2012-404-1015

Citation

openlaw-bc6abf44_4e2e_466d_b328_3346b36ae4e7.pdf
Court

High Court

The caveat must be removed because the caveator cannot sustain an arguable interest that binds the registered mortgagee: the alleged sale and lease were entered into after the registered mortgage, the mortgagee did not consent, and the mortgagee's power of sale and resulting transfer will extinguish subordinate interests; accordingly the caveat lapses and is to be removed upon registration of the mortgagee's transfer.
16 Oct 2008

DORCHESTER FINANCE LIMITED V RISK MANAGEMENT SERVICES LIMITED HC AK CIV2008-404-6332

Citation

openlaw-07206b41_95bf_4326_8f7b_c11e0de7ac80.pdf
Court

High Court

Risk Management Services failed to prove that Dorchester had knowledge of or consented to the alleged renewal lease; absent evidence of consent the alleged lease cannot bind the mortgagee under s119/s105, so the caveat protects no enforceable interest that can survive Dorchester's power of sale and must be removed on presentation of Dorchester's transfer in exercise of its power of sale.