In this case there was a mortgage and loan agreement provided by Permanent Custodian, signed by Mr and Mrs Yazgi as borrowers. The mortgage was registered. The Yazgis defaulted on payments. Mrs Yazgi claimed her husband had forged her signature on the mortgage and loan agreement and the court agreed. Nevertheless Associate Justice Harrison gave …
In this case the lender sought possession of the security for non-payment under the mortgage after having served s57(2)(b) notices. In her defense the borrower firstly alleged she was not party to the mortgage, secondly that the credit was predominantly provided for personal, domestic or household purposes and that therefore the Consumer Credit Code applied …
The plaintiff (Mizzi) was a widowed pensioner of Maltese origin with very limited English and very limited IQ. She was asked by her grandson Stefan Martin Allan for a mortgage over her home. She duly mortgaged her home to clients of RL Kremnizer and when the mortgage went into default proceedings were brought for possession. …
Mizzi v Reliance Financial Services [2007] NSWSC 37 Read More »
In this case a mortgage was given to finance the purchase of a block of flats from a 90 year old lady suffering from dementia. The 90 old lady did not receive any of the purchase proceeds and denied selling her property. A caveat was placed on the property on behalf of the 90 year …
In these proceedings the lender obtained orders possession of the properties by consent on proviso that the orders were stayed for a short while to allow the borrower to refinance. Unable to obtain refinance the borrower then sought to re-neg on the agreement (for judgment) and raise a defence based on the Uniform Consumer Credit …
First Mortgage Managed Investments v Oberlechner [2006] NSWSC 1397 Read More »
In this case the borrower raised a defence under the Contracts Review Act and alternatively under the principle in Yerkey v Jones (Undue influence). The principle in Yerkey v Jones (1939) 63 CLR 649 applies where two circumstances exist firstly where there is undue influence by a husband over a wife and second where there …
Swart advanced sum of $45,000 to Starceavich on an unregistered mortgage. After Starceavich defaulted Swart seized possession and tried to sell. Starceavich sought an order that Swart return possession pending a decision on a defence raised under the Contracts Review Act and on the basis of unconscionable dealing. The court considered whether or not Swart …
The borrower/mortgagor was an elderly man suffering from dementia born in 1914. His daughter guaranteed the loan but the court found she was in substance the borrower. The court also found she had provided false information to obtain the loan. The borrower/mortgagor sought relief against under the Contracts Review Act. The judgement makes no mention …
In this case the mortgagee obtained judgement for possession and a monetary amount and took possession. Judgment was obtained by default. A registrar refused to set-aside the default judgement and although that decision was appealed the appeal was not prosecuted. Notwithstanding Brereton J found no bar to allowing the mortgagor to file a cross-claim under …
A short term bridging loan was made to a property developer secured by a mortgage provided by his cleaning lady over her house. The independent legal advice she received was arranged for her at the lender’s office and the lender assured her the property developer would pay back the loan because a company associated with …
