TRANSFER OF LAND ACT 1958 - SECT 84 Discharge of mortgages and annuities
TRANSFER OF LAND ACT 1958 - SECT 84
Discharge of mortgages and annuitiesS. 84(1) amended by Nos 9976 s. 11, 18/1989 s. 12(Sch. 1 item 115(a)(b)), substituted by No. 42/2017 s. 30(1).
(1) Upon submission of an instrument in an appropriate approved form signed by the mortgagee or annuitant discharging the land or part thereof from the whole or part of the moneys or annuity secured, the Registrar must remove the recording of the mortgage, charge or annuity from the relevant folio of the Register and that land or portion of land ceases to be subject to the mortgage, charge or annuity.
S. 84(2) amended by Nos 9976 s. 11, 18/1989 s. 12(Sch. 1 item
116
(a)–(c)), substituted by No. 80/2009 s. 42(1).
(2) The Registrar may amend the Register to remove the recording of a mortgage on a folio or folios of the Register if it is proved to the Registrar's satisfaction that—
S. 84(2)(a) substituted by No. 42/2017 s. 30(2).
(a) either—
(i) all principal and interest due in respect of the mortgage have been paid to the person entitled to receive them; or
(ii) section 20 of the Limitation of Actions Act 1958 applies; and
S. 84(2)(b) substituted by No. 42/2017 s. 30(3).
(b) a discharge of mortgage instrument cannot be obtained because the mortgagee is—
(i) a natural person who is deceased and has no legal personal representative who can act on the deceased's behalf, or whose signature cannot for any reason be obtained within a reasonable time; or
(ii) a body corporate and the authorised agent of the body corporate cannot be located or the agent's signature cannot be obtained within a reasonable time.
S. 84(2A) inserted by No. 9976 s. 5, amended by No. 18/1989 s. 12(Sch. 1 item 117(a)(b)), repealed by No. 80/2009 s. 42(2).
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S. 84(3) amended by Nos 18/1989 s. 12(Sch. 1 item 118), No. 42/2017 s. 30(4).
(3) Upon proof to the satisfaction of the Registrar of the death of the annuitant or of the occurrence of the event or circumstance upon which in accordance with the provisions of any charge the annuity thereby secured ceases to be payable and that no moneys are owing in respect of the annuity the Registrar must remove the recording of the annuity from the relevant folio of the Register and that land or portion of land ceases to be subject to the annuity.
S. 84(4) inserted by No. 128/1986 s. 6, amended by No. 18/1989 s. 12(Sch. 1 item 119), repealed by No. 42/2017 s. 30(5).
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S. 84(5) inserted by No. 128/1986 s. 6, amended by No. 18/1989 s. 12(Sch. 1 item 120), repealed by No. 42/2017 s. 30(5).
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No. 5842 s. 85.