VIC Confiscation Act 1997

[asdf1290tn]

Just wondering, if person A's property been confiscated to the Attorney General and it's taking a while to sell the property, does person A need to pay the mortgage repayments until the property is sold even when they are no longer the owner? And what happens if person A does not pay the mortgage repayments as they are no longer the owner? Will they bear the debt even if the property eventually gets sold?

 

[Atticus]

Proceeds of crime?

1) Don't know the answer
2) Thoughts .... Confiscating property is not likley to extinguish a debt, nor the lenders rights ... I imagine if there is anything left owing after the sale, then that debt will remain as you being the debtor

There is this >>>> CONFISCATION ACT 1997 - SECT 42 Power to discharge mortgage or charge
Debt or mortgage can be discharged (on application) by prescribed person in certain circumstances ..... Don't know how or if that may be relevant in your case though... Probably need to see a lawyer