Question
Identify and explain all the relevant property interests and any relevant property rights: Last year, Julie purchased a pre-existing business from Tony. She obtained a
Identify and explain all the relevant property interests and any relevant property rights:
Last year, Julie purchased a pre-existing business from Tony. She obtained a registered mortgage from ABC Bank for the purchase. She also took out a loan with PayDayLender Pty Ltd to cover the purchase of business fixtures and fittings. As part of the sale Julie agreed to be responsible for the payment of the rent under an existing registered lease to the landlord, CentreManagement Pty Ltd. Julie is behind on the rent by 6 months, behind on her mortgage repayments by 5 months and just missed the monthly repayment to PayDayLender Pty Ltd. Julie has also borrowed money from her parents (Bob and Julie) in an attempt to fund the operating costs associated with the business. Tony is also upset with Julie as CentreManagement Pty Ltd are seeking recovery of the unpaid rent from him.
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