Real property - Torrens system - Unregistered lease - Variation of lease to reduce rent - Landlord in default under mortgage - Whether payment of reduced rent discharges lessee's rental obligations so as to bind purchaser following exercise of mortgagee's power of sale.
Mortgage - Torrens system - Statutory power of sale - Exercise - Nature of reversionary interest obtained by purchaser upon registration - Whether privity of title or interest exists between registered proprietor and former mortgagor or mortgagee.
Mortgage - Torrens system - Juridical nature of security interest - Comparison with old system mortgage - Rights and remedies of mortgagee under Transfer of Land Act 1958 (Vic), s 81.
Property Law Act 1958 (Vic), ss 135, 138, 141, 151.
Retail Tenancies Act 1986 (Vic), ss 21, 38.
Transfer of Land Act 1958 (Vic), ss 42(2)(e), 74, 77, 78, 81.