Document - Real Estate & Stock Institute of Victoria Contract of Sale (C.E.Carter of Ringwood - Agent), Unsigned draft auction contract. Vendor: Charles Anderton LANCASTER - 1937

Physical description

Unsigned draft auction contract of sale of land with Agent's typewritten summary. Property in Mitcham Road, Mitcham, Part of Crown Portion 125, Parish of Mitcham, Certificate of Title Volume 3223 Folio 644415.

Inscriptions & markings

18674 Lancaster AI Summary
The document is an unsigned 1937 draft contract of sale prepared for Charles Anderton Lancaster, orchardist of Deepdene, as vendor, for land on Mitcham Road, Mitcham, being part of Crown Portion 125 and described as “the whole of the land more particularly described in Certificate of Title Volume 3223 Folio 644415.” The purchase price is left blank. The terms require a deposit equal to one fourth of the purchase price, with the balance payable by twelve even and equal consecutive quarterly instalments, and 5% interest calculated on the balance owing at the commencement of each quarter, payable quarterly. All monies may be paid to the vendor’s solicitors, Abbott Beckett Stillman & Gray.
The special conditions state that the vendor sells as mortgagee under Mortgage No. 603301. The purchaser may pay the entire balance within 30 days without interest, though possession is withheld until full payment. The purchaser may also pay off the balance on any quarter day with interest only to the date of payment. A further condition provides that the purchaser “doth hereby attorn and become tenant from quarter to quarter to the Vendor… at the rent equivalent to the amount of interest payable hereunder,” with the tenancy terminable after notice if payments fall into arrears. The remainder of the document follows the standard 1931 Copyright Conditions of Sale.

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