Hi Dino, I agree about the lending, banks, security etc. And yes the owness is on the buyer to check encumerance out.
I am down on the G'Ment ATM cause I just got lumped with a $7800 Tax Bill - somehting about Superanuation Surcharge - WTF ?? - I have NFI what this is all about - But fancy lumping $8K bill on you just like that ?? Needless to say, I will be talking to Tax and Legal about it.
Same with Slipery.... It's a tough call.
What I mean by the G'ment getting away with it (should have explained myself some more) is that in cases like these , maybe the G'Ment should mediate and set up some form of schedule or somehting - or go after the fcker who defaulted in the first place.
The damn bank prolly gets $$ twice - once from the loan defaulter and again from the innocent (but ignorant) new owner - well not new, this loan is 6 years old - Pity it didn't kick in after the statute.....
It all sux......
Now I might have to sell the Gloria .......