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Zhiping Zhou: Court asked to reverse $1000 sale of home, seized by sheriff over $98K debt; Melbourne man Zhiping Zhou fighting to reverse sale of his home which was sold for $1,000 to Ronald Geoffrey Kousal
Topic Started: 9 Feb 2012, 06:00 PM (2,588 Views)
newjez
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Man's court win over $1000 house sale

From: AAP
May 10, 201212:18PM

Zhiping Zhou had his house sold by the sheriffs department for $1000 when he fell behind on home repayments. Source: Herald Sun

A MAN whose $630,000 Melbourne home was sold by a sheriff at auction for $1000 has won a Supreme Court bid to have the sale set aside.

Zhiping Zhou, 50, built the five-bedroom home at Braybrook, in Melbourne's west, in 2006.

In 2009, the sheriff was commanded to seize and sell the property after Mr Zhou failed to pay a debt of more than $100,000 for almost three years.

The property was also subject to a mortgage worth more than $450,000.

But despite being valued at about $630,000, the home was sold at auction for just $1000.

Mr Zhou claimed the sheriff breached his legal duty by selling the property for an amount which was illusory, unfair and unreasonable.

He sought an order that the sale be set aside, and sought damages against the sheriff.

He also took action against the buyer, Ronald Kousal, claiming that he acted unconscionably, and sought an order that Mr Kousal be permanently restrained from lodging transfer of the property.

In the Victorian Supreme Court today, Justice Peter Vickery said he was satisfied that the purported sale was not conducted in accordance with common law or with the Sheriff Act, and set it aside.

Mr Zhou's claim of unconscionable conduct by Mr Kousal was dismissed.

Read more: http://www.theaustralian.com.au/news/nation/mans-court-win-over-1000-house-sale/story-e6frg6nf-1226351964675
Whenever you have an argument with someone, there comes a moment where you must ask yourself, whatever your political persuasion, 'am I the Nazi?'
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Trojan
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Thanks newjez
I was wondering what happened to that case.
The court ruling pretty much proves something dodgy was going on when the house was sold for $1k
I put trolls and time wasters on my ignore list so if I don't respond to you, you are probably on it ....
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NotFooled
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Trojan
10 May 2012, 04:39 PM
Thanks newjez
I was wondering what happened to that case.
The court ruling pretty much proves something dodgy was going on when the house was sold for $1k
Did the buyer take on the mortgage of 450k, or was it truly a 1k sale?
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Trojan
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NotFooled
10 May 2012, 04:41 PM
Did the buyer take on the mortgage of 450k, or was it truly a 1k sale?
According to this article http://www.abc.net.au/news/2012-05-10/court-overturns-sale-of-1000-house/4002556
it included the $457k mortgage

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Mr Zhou has a financial interest in the house of $165,000. The sale included an outstanding mortgage of $457,000.
Edited by Trojan, 10 May 2012, 04:46 PM.
I put trolls and time wasters on my ignore list so if I don't respond to you, you are probably on it ....
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