Common use of Leasehold Titles and Encumbrances Clause in Contracts

Leasehold Titles and Encumbrances. If the property is a leasehold estate (other than a composite title), is Maori land, or is subject to a memorial noted pursuant to the State Owned Enterprises Act 1986, or the title is subject to an encumbrance, or other matter which could adversely affect the interest of the Credit Union as mortgagee, you must advise us and obtain the Credit Union’s prior written approval before proceeding.

Leasehold Titles and Encumbrances. If the property is a leasehold estate (other than a composite title), is Maori Māori land, or is subject to a memorial noted pursuant to the State State-Owned Enterprises Act 1986, or the title is subject to an encumbrance, or other matter which could adversely affect the interest of the Credit Union as mortgageeowner or Mortgagee, you must advise us and obtain the Credit Union’s prior written approval before proceeding.

Leasehold Titles and Encumbrances. If the property is a leasehold estate (other than a composite title), is Maori land, or is subject to a memorial noted pursuant to the State Owned Enterprises Act 1986, or the title is subject to an encumbrance, or other matter which could adversely affect the interest of the Credit Union as mortgageeMortgagee, you must advise us and obtain the Credit Union’s prior written approval before proceeding.