In response to mortgage stress rates and distressed sales increasing in the current economic environment, Practical Law Commercial Real Estate and Practical Law Insolvency and Restructuring are pleased to announce the publication of 28 new resources on mortgagees entering into possession of land and exercising the power of sale, relevant to all Australian jurisdictions. It includes:

• Practice note, Mortgagees taking possession of land. This note contains a guide to when and how a mortgagee can enter into possession of Torrens title land following a mortgagor's default under a legal mortgage.
• Practice note, Mortgagees exercising the power of sale of land. This note explains when and how a mortgagee can exercise the power of sale of Torrens title land following the mortgagor's default under a mortgage provided as security for the repayment of money lent under a facility agreement.
• Standard document, Demand for possession by mortgagee. This is a form of demand for delivery up of possession of mortgaged property that can be served by a mortgagee on a defaulting mortgagor.
• Standard document, Statement of claim for possession and debt (mortgagee) (New South Wales). This is a template statement of claim that can be used by a mortgagee seeking orders for possession of mortgaged property and debt against a defaulting mortgagor in the Supreme Court of New South Wales.
• Standard clauses, Additional contract special conditions: mortgagee exercising power of sale. These are an additional set of special conditions to include in a contract for sale of land by a mortgagee (as vendor) selling pursuant to the exercise of its power of sale.

For a toolkit containing all relevant Practical Law resources concerning mortgagees taking possession of land and exercising their power of sale, see Toolkit, Mortgagees in possession and exercising the power of sale.