PROPERTY LAW ACT 1958 - SECT 116 Cesser of mortgage terms

PROPERTY LAW ACT 1958 - SECT 116

Where a mortgage is by demise or sub-demise then without prejudice to the right of a tenant for   life or other person having only a limited interest in the equity of redemption to require the mortgage to be kept alive by transfer or otherwise, the mortgage term shall, when the money secured by the mortgage has been discharged, become a satisfied term and shall cease ^[28] .

No. 3754 s. 117.