Section 81 — Building Act 2004: Mortgage, charge, or lien has priority over registered instrument

81 Mortgage, charge, or lien has priority over registered instrument (1) This section applies if— (a) the registered instrument referred to in section 80(2) is a mortgage, charge, or lien; and (b) any of the land to which that mortgage, charge, or lien is extended is already subject to a registered mortgage, charge, or lien. (2) The registered mortgage, charge, or lien has priority over any mortgage, charge, or lien extended over land under section 80(2) . (3) If a registered mortgage, charge, or lien is extended over the land comprised in a certificate of title by section 80 , it has priority over any mortgage, charge, or lien against the land that is registered after the entry is recorded against the certificate of title to that land under that section. Compare: 1991 No 150 s 37(5), (6)