75
CurrentSubmortgages
Part VIEstates and Interests in Land and Registration of Dealings
Division 5Mortgages and encumbrances
75 Submortgages
A mortgagee may create a submortgage in favour of a person by executing a transfer of mortgage by way of security in an approved form.
Section 60 applies to a transfer of mortgage under this section, but nothing in that section prevents a court from giving effect to a covenant contained in a transfer of mortgage that the transferee will execute a registrable transfer of the mortgage to the transferor by way of discharge of the security.
This Act’s bill:Explanatory notesSecond reading speech
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