PROPERTY LAW ACT 1958 - SEVENTH SCHEDULE
PROPERTY LAW ACT 1958 - SEVENTH SCHEDULE
Seventh Schedule—Statutory mortgage
Sch. 7 Pt 1 amended by No. 70/2013 s. 3(Sch. 1 item 42.5).
PART I
THIS INDENTURE made by way of statutory mortgage the day
of
20 , between A. of [&c.] of the one part and M. of
[&c.] of the other part.
WITNESSETH that in consideration of the sum of $ now paid to A. by M. of which sum A. hereby acknowledges the receipt A. as mortgagor and as beneficial owner hereby conveys to M. All that [&c.]
To hold to and to the use of M. in fee-simple for securing payment on the day of 20 of the principal sum of $ as the mortgage money with interest thereon at the rate of [ four ] per centum per annum.
In witness, &c.
* * * Variations in this and subsequent forms to be made, if required, for leasehold land or for giving effect to special arrangements.
PART II
Sch. 7 Pt 2(A) amended by No. 70/2013 s. 3(Sch. 1 item 42.5).
(A)
Deed of Statutory Transfer, Mortgagor not joining
THIS INDENTURE made by way of statutory transfer of mortgage the
day of
20 between M. of [&c.] of the one part and T. of
[&c.] of the other part supplemental to an indenture made by way of statutory
mortgage dated the day of 20 , and
made between [&c.]
WITNESSETH that in consideration of the sum of $ now paid to
M.
by T. being the aggregate amount of $ mortgage money and
$
interest due in respect of the said mortgage of which sum M.
hereby acknowledges the receipt M. as mortgagee hereby conveys and transfers
to T. the benefit of the said mortgage.
In witness, &c.
Sch. 7 Pt 2(B) amended by Nos 71/1994 s. 4(e), 70/2013 s. 3(Sch. 1 item 42.5).
(B)
Deed of Statutory Transfer, a Covenantor joining
THIS INDENTURE made by way of statutory transfer of mortgage the
day of 20 , between A. of [&c.] of the first part
B. of [&c.] of the second part and C. of [&c.] of the third part supplemental
to an
indenture made by way of statutory mortgage dated the day
of
20 , and made between [&c.]
WITNESSETH that in consideration of the sum of $ now paid to A. by C. being the mortgage money due in respect of the said mortgage no interest being now due and payable thereon of which sum A. hereby acknowledges the receipt A. as mortgagee with the concurrence of B. who joins herein as covenantor hereby conveys and transfers to C. the benefit of the said mortgage.
In witness, &c.
Sch. 7 Pt 2(C) amended by No. 70/2013 s. 3(Sch. 1 item 42.5).
(C)
Statutory Transfer and Statutory Mortgage combined
THIS INDENTURE made by way of statutory transfer of mortgage and statutory
mortgage the day of 20 , between A.
of [&c.] of the first part B. of [&c.] of the second part and C. of [&c.] of
the third part supplemental to an indenture made by way of statutory mortgage
dated
the day of 20 , and made
between [&c.]
WHEREAS the principal sum of $ only remains due in respect of the said mortgage as the mortgage money and no interest is now due and payable thereon AND WHEREAS B. is seised in fee-simple of the land comprised in the said mortgage subject to that mortgage.
NOW THIS INDENTURE WITNESSETH that in consideration of the sum of $
now paid to A. by C. of which sum A. hereby acknowledges the receipt
and B. hereby acknowledges the payment and receipt as aforesaid* A. as
mortgagee hereby conveys and transfers to C. the benefit of the said mortgage.
AND HIS INDENTURE ALSO WITNESSETH that for the same consideration A. as
mortgagee and according to his estate and by direction of B. hereby conveys
and B. as beneficial owner hereby conveys and confirms to C. All that [&c.] To
hold to and to the use of C. in fee-simple for securing payment on the
day of 20 , of† the sum of
$
as the mortgage money with interest at the rate of [ four ] per cent.
per annum.
In witness, &c.
Or, in case of further advance, after "aforesaid" at * insert and also in consideration of the further sum of $ now paid by C. to B. of which sum B. hereby acknowledges the receipt, and after "of" at † insert the sums of $ and $ making together.
* * * Variations to be made, as required, in case of the deed being made by indorsement, or in respect of any other thing.
Sch. 7 Pt 3 amended by No. 70/2013 s. 3(Sch. 1 item 42.5).
PART III
Deed of Statutory Re-conveyance of Mortgage
THIS INDENTURE made by way of statutory re-conveyance of mortgage the day of 20 between C. of [&c.] of the one part B. of [&c.] of the other part supplemental to an indenture made by way of statutory transfer of mortgage dated the day of 20 and made between [&c.]
WITNESSETH that in consideration of all principal money and interest due under that indenture having been paid of which principal and interest C. hereby acknowledges the receipt C. as mortgagee hereby conveys to B. all the lands and hereditaments now vested in C. under the said indenture To hold to and to the use of B. in fee-simple discharged from all principal money and interest secured by and from all claims and demands under the said indenture.
In witness, &c.
* * * Variations as noted above .
Sch. 8 amended by No. 70/2013 s. 3(Sch. 1 item 42.6).