Perpetual Trustees Victoria v Ann-Marie Menzies [2009] NSWSC 352

In this case there was a first and second mortgage, both were forged. The first mortgage was held by Perpetual Trustees Victoria. The second mortgage was held by Finance Express. The judge was asked to decide whether or not the mortgages secured the respective debts. This depended upon the wording of the two mortgages.

Both mortgages were all monies mortgages. Accordingly both mortgagees lost all their money through stupidity. It is not a question of them being badly advised because Bransgroves have been warning lenders for nearly a decade of the danger of using all monies mortgages. The Torrens System was invented to protect lenders against this very danger. By using an all monies mortgage lenders throw away the protections created by the Torrens System and indivisibility of title.

Bransgroves Lawyers continually warns lenders not to use all monies mortgages. However despite the raft of recent cases Perpetual Trustees Victoria Limited v Tsai [2004], Printy v Provident Capital Limited [2007], Chandra v Perpetual Trustees Victoria Ltd [2007], Yazgi v Permanent Custodians Limited [2007], Perpetual Limited v Costa [2007], Perpetual Trustees Victoria Limited v Ford [2008], Perpetual Trustees Victoria Ltd v Van den Heuvel [2008], Vella v Permanent Mortgages [2008], Provident Capital v Printy [2008] CA, Perpetual Trustees Australia v Richards [2008], Australian Regional Credit v Mula [2009] lenders continue to use them.

Click here to read the full judgment

Scroll to Top