Notice by mortgagee
(1) Subject to subsection (4), if a mortgagee in respect of rented premises under a mortgage entered into before the residential rental agreement was entered into becomes entitled to possession of, or to exercise a power of sale in respect of, the premises under a mortgage, the mortgagee may give the renter a notice to vacate the premises.
(2) The notice must specify a termination date that is not less than 60 days after the date on which the notice is given.
(3) If the mortgagee exercises a right conferred by subsection (1) in relation to a residential rental agreement, this Division, Part 5 and Part 7 have effect as if a reference to a residential rental provider under a residential rental agreement included a reference to the mortgagee.
(4) A notice to vacate must not be given by a mortgagee if the mortgagee has expressly or impliedly consented to the mortgagor entering into a residential rental agreement in relation to the rented premises, regardless of when the residential rental agreement was entered into.
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