DUTIES ACT 2001 - SECT 247 Imposition of mortgage duty
DUTIES ACT 2001 - SECT 247
Imposition of mortgage duty247 Imposition of mortgage duty
(1) This chapter imposes duty (
"mortgage duty" ) on instruments that are mortgages, particular caveats claiming an interest under mortgages and particular releases of mortgages.Note—Concessions and exemptions for mortgage duty are dealt with in parts 6 and 7 . Also, other exemptions are dealt with in chapter 10 .
(2) Mortgage duty is imposed on the amount secured by a mortgage.Note—See part 4 (Amount secured by a mortgage).