Section 113 — Property Law Act 2007: Instruments of title must be delivered on production of Public Trust’s receipt or certificate
Text of the provision Official document
113 Instruments of title must be delivered on production of Public Trust’s receipt or certificate A person in possession of the instruments of title for mortgaged property must deliver them to the current mortgagor or any other person entitled to redeem the mortgaged property on— (a) the production by the mortgagor or person of— (i) Public Trust’s receipt for all amounts secured by the mortgage that would have been payable if the discharge of the mortgage had been sought under sections 97 to 101 ; or (ii) Public Trust’s certificate that all amounts secured by the mortgage have been paid in full; and (b) payment of all proper charges (if any). Compare: 1952 No 51 s 87(7), (8)
Official source: legislation.govt.nz
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