Section 111 — Land Transfer Act 1952: Discharge of mortgage

111 Discharge of mortgage (1) A mortgage discharge instrument is required for the purpose of registering a discharge of any mortgage under this Act. (2) A mortgage discharge instrument must contain the following information: (a) the land to be discharged from the mortgage, which must include a reference to the register in the prescribed manner; and (b) the mortgage to be discharged, which must include a reference to the register in the prescribed manner; and (c) the part of the principal sum, annuity, or other sum to be discharged if it is not to be fully discharged. (3) A mortgage discharge instrument must be executed by the mortgagee. (4) Upon the registration of a discharge instrument,— (a) the Registrar must record the discharge in the register and on the certificate of title for the land (if any); and (b) the land identified in the discharge instrument ceases to be subject to or liable for the debt or annuity secured by the mortgage. The original subsection (3) was amended, as from 4 October 1957, by section 26(2) Archives Act 1957 (1957 No 13) by omitting the words “ and may destroy the duplicate previously so filed ” . The original subsection (4) was inserted, as from 1 June 2002, by section 65(1) Land Transfer (Computer Registers and Electronic Lodgement) Amendment Act 2002 (2002 No 11). Section 111 was substituted, as from 26 August 2002, by section 46 Land Transfer (Computer Registers and Electronic Lodgement) Amendment Act 2002 (2002 No 11). See clause 2 Land Transfer (Computer Registers And Electronic Lodgement) Amendment Act Commencement Order 2002 (SR 2002/216).