Common use of Unit Title Clause in Contracts

Unit Title. If the property is a stratum estate under the Unit Titles Act 2010: (a) obtain the certificate under Section 146 and 147 of that Act; (b) confirm that none of the rules of the Body Corporate, nor the contents of either the Section 146 or the 147 certificate, disclose any matter which would adversely affect our interest as Mortgagee; (c) notify the Body Corporate insurers of the interest of the Credit Union as Mortgagee and owner of a 1/10th share in the Property as tenant in common; (d) Search the Personal Property Security Register to ensure that there are no charges registered against the property being purchased by the Mortgagor(s) and certify in your solicitor’s certificate that there are either no registered charges or that you will have obtained releases of same before settlement.

Unit Title. If the property is a stratum estate under the Unit Titles Act 2010: (a) obtain the certificate certificates under Section Sections 146 and 147 of that Act; (b) confirm that none of the rules of the Body Corporate, nor the contents of either the Section 146 or the 147 certificatecertificates, disclose any matter which would adversely affect our interest as Mortgagee; (c) notify the Body Corporate insurers of the interest of the Credit Union as Mortgagee and owner of a 1/10th share in the Property as tenant in common; Mortgagee; (d) Search the Personal Property Security Register to ensure that there are no charges registered against the property being purchased by the Mortgagor(s) and certify in your solicitor’s certificate that there are either no registered charges or that you will have obtained releases of same before settlement.