{"id":43421,"date":"2023-07-03T12:18:33","date_gmt":"2023-07-03T00:18:33","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=43421"},"modified":"2023-07-03T12:18:33","modified_gmt":"2023-07-03T00:18:33","slug":"legal-dispute-over-ownership-gold-coast-house-sells-for-2-66m-at-auction","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/legal-dispute-over-ownership-gold-coast-house-sells-for-2-66m-at-auction\/","title":{"rendered":"Legal Dispute Over Ownership: Gold Coast House Sells for $2.66M at Auction"},"content":{"rendered":"<p><strong>PHOTO: The Mermaid Beach home has sold to new owners.<cite class=\"Typography_base__k7c9F Figure_citation__VRbQX Typography_sizeMobile12__d1m0s Typography_lineHeightMobile20__akKiV Typography_regular__Aqp4p Typography_colourInherit__xnbjy Typography_letterSpacedSm__oprIk\" data-component=\"Figure__cite\">(<span class=\"Typography_base__k7c9F image_byline__7WNBs Typography_sizeMobile12__d1m0s Typography_lineHeightMobile24__xwyV0 Typography_regular__Aqp4p Typography_colourInherit__xnbjy Typography_letterSpacedSm__oprIk\" data-component=\"Byline\"><span class=\"Typography_base__k7c9F Typography_sizeMobile12__d1m0s Typography_lineHeightMobile20__akKiV Typography_regular__Aqp4p Typography_colourInherit__xnbjy Typography_letterSpacedSm__oprIk\" data-component=\"Text\">ABC Gold Coast<\/span><\/span>)<\/cite><\/strong><\/p>\n<p>In a complex legal saga, a <a href=\"https:\/\/propertynoise.co.nz\/au\/?s=Gold+Coast&amp;submit=Search\">Gold Coast<\/a> house that was embroiled in a dispute over ownership has been successfully auctioned off for an impressive sum of $2.66 million. The property, located on Francis Street in <a href=\"https:\/\/propertynoise.co.nz\/au\/?s=Mermaid+Beach&amp;submit=Search\">Mermaid Beach<\/a>, saw intense bidding from four registered buyers on Friday.<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"Z6kqZyRIay\"><p><a href=\"https:\/\/www.propertynoise.co.nz\/who-are-the-movers-and-shakers-of-the-nz-real-estate-industry\/\">Who are the &#8216;MOVERS AND SHAKERS&#8217; of the NZ real estate industry? BUY NOW $19.99<\/a><\/p><\/blockquote>\n<p><iframe class=\"wp-embedded-content lazyload\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;Who are the &#8216;MOVERS AND SHAKERS&#8217; of the NZ real estate industry? BUY NOW $19.99&#8221; &#8212; Property News NZ | propertynoise.co.nz\" data-src=\"https:\/\/www.propertynoise.co.nz\/who-are-the-movers-and-shakers-of-the-nz-real-estate-industry\/embed\/#?secret=glgIVsVN0O#?secret=Z6kqZyRIay\" data-secret=\"Z6kqZyRIay\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" data-load-mode=\"0\"><\/iframe><\/p>\n<p>The previous owners, Jess and Jackie Morecroft, initially purchased the house in 2018 for $1.265 million at a mortgagee auction. However, they soon discovered that the property&#8217;s title had never been transferred into their names. This revelation led to a prolonged five-year court battle.<\/p>\n<p>In February, the Supreme Court ruled in favor of the original owner, Hind Issa, stating that the property still legally belonged to her as the title transfer had never occurred. Ms. Issa alleged that a relative had fraudulently used the house as collateral for a loan by forging her signature, subsequently defaulting on the loan.<\/p>\n<p>As a result of the court&#8217;s decision, the Morecrofts were forced to vacate the premises. However, they were granted the right to seek compensation from the state government, amounting to $2.7 million, due to being deprived of the property as a result of the mortgage fraud. Nonetheless, they were also obligated to cover a portion of Ms. Issa&#8217;s and the state government&#8217;s legal expenses.<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"zDM2JspSDj\"><p><a href=\"https:\/\/propertynoise.co.nz\/au\/tigers-ex-girlfriend-kicked-out-of-mansion-accusing-him-of-shocking-acts-watch\/\">Tiger&#8217;s&#8217; ex-girlfriend KICKED OUT of MANSION accusing him of &#8216;shocking act&#8217;s | WATCH<\/a><\/p><\/blockquote>\n<p><iframe class=\"wp-embedded-content lazyload\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; visibility: hidden;\" title=\"\u201cTiger\u2019s\u2019 ex-girlfriend KICKED OUT of MANSION accusing him of \u2018shocking act\u2019s | WATCH\u201d \u2014 Property News Australia\" data-src=\"https:\/\/propertynoise.co.nz\/au\/tigers-ex-girlfriend-kicked-out-of-mansion-accusing-him-of-shocking-acts-watch\/embed\/#?secret=27rldqMxxa#?secret=zDM2JspSDj\" data-secret=\"zDM2JspSDj\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" data-load-mode=\"0\"><\/iframe><\/p>\n<p>With the legal dispute resolved, Ms. Issa decided to place the beachside property on the market. Surpassing all expectations, the house sold for more than double its previous sale price, underscoring its desirability and attracting a significant financial return for the original owner. Notably, the state government has appealed the compensation order, indicating that the legal battle may continue.<\/p>\n<p>SOURCE: <a href=\"https:\/\/www.abc.net.au\/news\/2023-06-16\/gold-coast-house-legal-dispute-over-ownership-sells-at-auction\/102487628\">ABC<\/a><\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"lB92E76KdA\"><p><a href=\"https:\/\/propertynoise.co.nz\/au\/get-keep-informed\/\">GET &#038; KEEP INFORMED<\/a><\/p><\/blockquote>\n<p><iframe class=\"wp-embedded-content lazyload\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; visibility: hidden;\" title=\"\u201cGET &amp; KEEP INFORMED\u201d \u2014 Property News Australia\" data-src=\"https:\/\/propertynoise.co.nz\/au\/get-keep-informed\/embed\/#?secret=xWagmA5ztT#?secret=lB92E76KdA\" data-secret=\"lB92E76KdA\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" data-load-mode=\"0\"><\/iframe><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PHOTO: The Mermaid Beach home has sold to new owners.(ABC<span class=\"more-link\"><a href=\"https:\/\/propertynoise.co.nz\/au\/legal-dispute-over-ownership-gold-coast-house-sells-for-2-66m-at-auction\/\">Read More &rarr;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":43422,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[461747081],"tags":[478102436,478125638,478106952,478099453,478120383,478099352,478101759,478125639,478125636,478125637,478098715,478103406],"class_list":["entry","author-data123nz","post-43421","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australian-property-real-estate-news","tag-beachside-property","tag-francis-street","tag-gold-coast-auction","tag-gold-coast-home","tag-gold-coast-house","tag-gold-coast-property","tag-gold-coast-real-estate","tag-gold-coast-real-estate-auction","tag-jess-and-jackie-morecrof","tag-mermaid-beach-home","tag-mortgage-fraud","tag-mortgagee-auction"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.7 - 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