Requirements for renewal or extension of mortgage
153A Requirements for renewal or extension of mortgage
Certification required under section 273(1) in relation to an instrument lodged for registration in the Lands
Titles Registration Office renewing or extending a mortgage must be provided by the mortgagee.
If certification under section 273(1) is provided by a mortgagee in relation to an instrument lodged for registration in the Lands Titles Registration Office renewing or extending a mortgage, the instrument will be taken, for the purposes of this section, to have been executed by the mortgagee.
The
Registrar‑General may register an instrument lodged for registration in the Lands Titles Registration Office renewing or extending a mortgage that is executed solely by the mortgagee—
if the Registrar‑General is satisfied that a document in the same terms as the instrument lodged for registration (the corresponding document) has been executed by the mortgagor and retained by the mortgagee; and
in a case where the mortgagee is not an ADI—if certification required under section 273(1) in relation to the instrument has been provided—
by a legal practitioner or a registered conveyancer; or
if the Registrar‑General has given written approval for another person to provide the certification—by that person.
If the Registrar‑General registers an instrument renewing or extending a mortgage that is executed solely by the mortgagee, the corresponding document—
must be retained by the mortgagee until he or she ceases to be mortgagee;
and
if the mortgage is transferred under section 150—must be given to the transferee.
Maximum penalty: $5 000.
If the mortgage is transferred under section 150, the corresponding document must be retained by the transferee until he or she ceases to be mortgagee.
Maximum penalty: $5 000.
To avoid doubt, the execution of an instrument under this section is not required to be witnessed.
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