National Consumer Credit Protection Act 2009

SCHEDULE 1 - NATIONAL CREDIT CODE  

Note:

See section 3 of the National Credit Act.

PART 5 - ENDING AND ENFORCING CREDIT CONTRACTS, MORTGAGES AND GUARANTEES  

Division 1 - Ending of credit contract by debtor etc.  

Subdivision B - Ending of reverse mortgage by credit provider receiving value of reverse mortgaged property  

86B   Discharge of debtor ' s obligations under credit contract and discharge of mortgage  

86B(1)    
The debtor ' s obligations under the credit contract are discharged by force of this subsection.

86B(2)    
The mortgage securing those obligations is discharged by force of this subsection.

Note:

This section does not apply in some cases: see section 86E.