REAL PROPERTY ACT 1900 - SECT 12B
Mortgagee or mortgagor may be recorded as registered proprietor
REAL PROPERTY ACT 1900 - SECT 12B
Mortgagee or mortgagor may be recorded as registered proprietor
12B Mortgagee or mortgagor may be recorded as registered proprietor
(1) Where it appears to the Registrar-General that the legal estate in land is
vested in a mortgagee and the Registrar-General creates under any provision of
this Act, other than section 17 (2), a folio of the Register for the land, the
Registrar-General may record the mortgagee or the mortgagor in the folio as
registered proprietor of the land.
(2) Where, pursuant to subsection (1) or
section 17 (2), the Registrar-General records a mortgagee as registered
proprietor in a folio of the Register for any land, the Registrar-General
shall record in the folio the Registrar-General's caveat forbidding the
recording in the Register of any dealing relating to that land by the
mortgagee other than a dealing giving effect to an exercise of the mortgagee's
powers as mortgagee.