All Monies Clauses

Titles Strata Management v Nirta [2015] VSC 366

The case has been the subject of an earlier case note, where it was held that the wife’s signature was forged and while the fraud could not be sheeted home to the lender, the covenant to pay in the loan was not incorporated into the mortgage and so the mortgage secured nothing. The matter before …

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Xiao v Perpetual Trustees Victoria [2015] VSCA 124

A husband obtained finance by transferring his home to his wife and applying for the loan in his wife’s name, forging her signature. The trial judge found lender was unable to rely on its mortgage (as it was a forgery) but found that the home was held on trust for the husband and ordered its …

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Titles Strata Management v Nirta [2015] VSC 187

A husband and wife mortgaged their pizza shop (registered) and home (unregistered) to secure a short term loan with interest at 8% per month (96% per annum) which they defaulted on. The lender obtained judgment against the husband but the wife claimed that her signature was forged. The court believed the wife that her signatures …

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Meldov v Bank of Queensland [2015] NSWSC 378

The Bank of Queensland advanced $760k more than it intended to advance to the borrower by mistake. Within 2 months the borrower drew down on the additional money. Later the bank exercised power of sale and applied the proceeds to the amounts owing to the bank (including the mistaken advance). The second mortgagee sued the …

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Perpetual Trustees v Xiao [2015] VSC 21

A husband wanted to purchase a restaurant but had a bad credit rating so he transferred his home to his wife and then forged her signature on the mortgage to finance his purchase. The loan went into default and the lender claimed possession. The court found that the wife was a pawn in her husband’s …

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Perpetual Trustees Victoria v Cox [2014] NSWCA 328

The evidence, although inconclusive, strongly suggested that the broker forged a drawdown request sent to the lender’s solicitor. The money was transferred, as per the direction, to a bank account under the broker’s control. As the borrowers did not obtain the benefit of the loan, the bank was not granted possession. On appeal the bank …

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Perpetual Trustees Victoria v Cox [2014] NSWCA 328

The evidence, although inconclusive, strongly suggested that the broker forged a drawdown request sent to the lender’s solicitor. The money was transferred, as per the direction, to a bank account under the broker’s control. As the borrowers did not obtain the benefit of the loan, the bank was not granted possession. On appeal the bank …

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Sibonna Nominees v Vouzas [2013] VSCA 369

The parents came to the rescue of their son who needed security for a loan by mortgaging two homes they owned. The son defaulted on the loan causing the sale of the two properties. The mortgage was expressed to secure all monies owing by the parents to the lender but no monies had been lent …

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NAB v Hunter [2013] NSWSC 1642

A husband and wife guaranteed company loans, secured by an earlier all monies mortgage over their home. The bank sought possession and a money judgment against the wife. The wife cross-claimed that the two guarantees she signed were void because had she known that the mortgage was an “all monies” mortgage and had the bank …

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Perpetual Trustees v Cox [2013] NSWSC 1583

A husband and wife borrowed monies refinance their mortgage and to have funds undrawn but set aside for future drawdown. However at settlement their broker sent through a direction requiring the funds to be paid into the broker’s account. When the husband and wife found out they tried to confront the broker. The husband showed …

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