Document ID: chunk:federal_register_of_legislation:F2024C00417:reg:3:p89
Version: federal_register_of_legislation:F2024C00417
Segment Type: reg
Provision Reference: reg 3 (pt 89/100)
Character Range: 332278–334950

for the best price obtainable (see rule 11.26).

11.23  Conditions of sale of property
 (1) This rule applies in relation to the sale by an enforcement officer of property seized under an Enforcement Warrant.
 (2) The enforcement officer must specify as a condition of the sale of the property that the buyer:
 (a) must pay:
 (i) a deposit of at least 10% of the price fixed for the property when the buyer's offer for the property is accepted by the enforcement officer; and
 (ii) the balance of that price within the period determined by the enforcement officer; or
 (b) must pay the whole of the price fixed for the property when the enforcement officer accepts the buyer's offer for the property.
 (3) The period referred to in subparagraph (2)(a)(ii) must:
 (a) be determined before the property is offered for sale; and
 (b) be no longer than 42 days.

11.24  Result of sale of property under Enforcement Warrant
 (1) An enforcement officer must, within 7 days after the day of settlement of a sale of property, file a notice in the court stating:
 (a) the details of the result of the sale; and
 (b) the reasonable fees and expenses of the enforcement.
 (2) The enforcement officer must pay out of the money received from the enforcement:
 (a) any amount still owing to the enforcement officer for the reasonable fees and expenses of the enforcement; and
 (b) the balance of any amount owed to the payee under the Enforcement Warrant; and
 (c) the remaining amount (if any) to the payer.

11.25  Payee's responsibilities
 (1) At least 28 days before an enforcement officer sells real property under an Enforcement Warrant, the payee must:
 (a) send to the payer, at the payer's last known address, and to any mortgagee or other person who has an encumbrance registered on the title to the property that has priority over the Enforcement Warrant, written notice stating:
 (i) that the Warrant has been registered on the title to the property; and
 (ii) that the enforcement officer intends to sell the property to satisfy the obligation if the total amount owing is not paid, or arrangements considered satisfactory to the payee have not been made by a date specified in the notice; and
 (iii) the enforcement officer's name and address; and
 (b) give the enforcement officer evidence of the following:
 (i) proof of compliance with paragraph (a);
 (ii) that the Warrant has been registered on the land titles register;
 (iii) details of the real property proposed to be sold including the address and description of the land title of the property;
 (iv) details of all encumbrances registered against the real property on the date of registration of the Enforcement