Hey guys,
Happy New Year to everyone! I went to a viewing last week and on the property's title, under "Interests" it states:
12345.1 Mortgage to ANZ Bank - date/time
23456.2 Encumberance to Auckland Council - date/time
34567.3 Mortgage Priority Instrument making Encumberance 23456.2 first priority and Mortgage 12345.1 second priority - date/times.
Does anyone know what exactly the "Encumberance to Auckland Council" entails? Shouldn't the specific encumberance be made specific? Seems abit vague to be.
If the encumberance simply relates to Auckland council having first priority on the Mortgage (before ANZ) under what circumstances does this clause appear?
Thanks in advance - I've searched this forum and googled but cant seem to find any info on this.
Cheers
Karl
Happy New Year to everyone! I went to a viewing last week and on the property's title, under "Interests" it states:
12345.1 Mortgage to ANZ Bank - date/time
23456.2 Encumberance to Auckland Council - date/time
34567.3 Mortgage Priority Instrument making Encumberance 23456.2 first priority and Mortgage 12345.1 second priority - date/times.
Does anyone know what exactly the "Encumberance to Auckland Council" entails? Shouldn't the specific encumberance be made specific? Seems abit vague to be.
If the encumberance simply relates to Auckland council having first priority on the Mortgage (before ANZ) under what circumstances does this clause appear?
Thanks in advance - I've searched this forum and googled but cant seem to find any info on this.
Cheers
Karl
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