Hocana v Jamsapi [2007] NSWSC 928

In this case Hocana as mortgagee in possession sold a property to Jamsapi and allowed persons associated with the purchaser to inhabit the security under licence. The purchaser did not complete so Hocana issued a notice to complete, then purported to terminate the contract and resold the property. With settlement of the new sale imminent Hocana then  arranged for the Sheriff to evict the occupants and brought this case to force the removal of a caveat by Jamsapi. Justice Peter Young (Chief Judge in Equity) decided for the lender decided that even if the notice to complete was invalid the purchaser had abandoned the contract and no right to a caveat.

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