Stakeholding Sample Clauses
Stakeholding. 12.1 The deposit must be released to the vendor if:
(a) the vendor provides particulars, to the satisfaction of the purchaser, that either-
(i) there are no debts secured against the property; or
(ii) if there are any debts, the total amount of those debts do not exceed 80% of the sale price; and
(b) at least 28 days have elapsed since the particulars were given to the purchaser under paragraph (a); and
(c) all conditions of section 27 of the Sale of Land Act 1962 have been satisfied.
12.2 The stakeholder must pay the deposit and any interest to the party entitled when the deposit is released, the contract is settled, or the contract is ended.
12.3 The stakeholder may pay the deposit and any interest into court if it is reasonable to do so.
Stakeholding. 12.1 The deposit must be released to the vendor if:
(a) the vendor provides particulars, to the reasonable satisfaction of the purchaser, that either—
(i) there are no debts secured against the property; or
(ii) if there are any debts, the total amount of those debts does not exceed 80% of the sale price; and
(b) at least 28 days have elapsed since the particulars were given to the purchaser under paragraph (a); and
(c) all conditions of S27 of the Sale of Land Act 1962 (“the Act”) have been satisfied.
12.2 The stakeholder must pay the deposit and any interest to the party entitled when the deposit is released, the contract is settled, or the contract is ended.
12.3 The stakeholder may pay the deposit and any interest into court if it is reasonable to do so.
12.4 Where the purchaser is deemed by Section 27(7) of the Sale of Land Act 1962 to have given the deposit release authorization referred to in Section 27(1) of the Act, the purchaser is also deemed to have accepted title in the absence of any prior objection to title.
Stakeholding. (a) The deposit must not be released until general condition 14 and any special condition benefiting the purchaser have been satisfied.
(b) Any objection to the vendor’s title must be made within 28 days of the day of sale.
(c) If the vendor gives notice that there is no mortgage or caveat, other than a purchaser’s caveat, affecting the land the stakeholder is authorised to transfer the deposit to the vendor 28 days after the day of sale provided that:
(i) general condition 12(a) has been satisfied; and
(ii) the purchaser has not made a valid objection to title.
(d) If there is mortgage or caveat, other than a purchaser’s caveat, affecting the land the stakeholder is authorised to transfer the deposit to the vendor provided that:
(i) general condition 12(a) has been satisfied; and
(ii) the purchaser has not made a valid objection to title; and
(iii) the vendor has provided to the purchaser reasonable evidence that the total amount of secured debts does not exceed 70% of the sale price; and
(iv) 28 days have elapsed since providing that evidence.
Stakeholding. The deposit must be released to the vendor if : the vendor provides particulars, to the satisfaction of the purchaser, that either— there are no debts secured against the property; or if there are any debts, the total amount of those debts does not exceed 80% of the sale price; and at least 28 days have elapsed since the particulars were given to the purchaser under paragraph (a); and all conditions of section 27 of the Sale of Land Act 1962 have been satisfied. The stakeholder must pay the deposit and any interest to the party entitled when the deposit is released, the contract is settled, or the contract is ended. The stakeholder may pay the deposit and any interest into court if it is reasonable to do so.
Stakeholding. 12.1 The Deposit must be released to the Vendor if:
(a) the Vendor provides proof, to the reasonable satisfaction of the Purchaser, that either-
(i) there are no debts secured against the property; or
(ii) if there are any debts, the total amount of those debts does not exceed 80% of the sale price; and
(b) at least 28 days have elapsed since the day of sale; and
(c) all conditions of the Sale of Land Act 1962 have been satisfied.
12.2 The stakeholder must pay the Deposit and any interest to the party entitled when the deposit is released, the contract is settled, or the Contract is ended.
12.3 The stakeholder may pay the Deposit and any interest into court if it is reasonable to do so.
12.4 Where the purchaser is deemed by section 27(7) of the Sale of Land Act 1962 to have given the deposit release authorisation referred to in Section 27 (1), the purchaser is also deemed to have accepted title in the absence of any prior express objection to title.
Stakeholding. The Vendors appoint Hrkac Group Legal Pty Ltd of 00 Xxxxx Xxxxxx, Xxxxxxx as Solicitor for the Vendor for the purpose only of holding all deposit money as stakeholder pursuant to Section 24 of the Sale of Land Act 1962.
Stakeholding. If any xxxxxxx money or security deposit or bond is required by this agreement, it shall be provided by the purchase of an interest-bearing certificate of deposit or its equivalent or by placing the funds in an interest-bearing saving account in the joint names of the adverse contracting parties. The certificate of deposit or the savings account passbook shall be placed in escrow with a stakeholder other than the parties until the conditions or performance occur which permit the release of the funds or require the return of the funds, at which time the parties shall jointly sign the necessary documents to release the funds. The party who is eventually entitled to the funds in whole or in part shall also be entitled to all the interest accrued on his pro rata share of such funds.