24 August 1998CIRCULAR MEMORANDUM NO. 2 OF 1998Distribution: GeneralSubjects1. Change of Practice on Requisitions & Final Notice Procedure2. Partial Discharges of Mortgage3. Approved Forms on Disk
1. Change of Practice on Requisitions & Final Notice Procedure
The Recorder of Titles has power under Section 50 Land Titles Act 1980
to raise a requisition where in the opinion of the Recorder a dealing is erroneous, incomplete or defective in any particular manner.
Past practice where a requisition has not been complied with has been to issue a final notice and then a further 14 day notice or notices. This practice has caused delays in registration and has been discontinued.
The office will now only send one
final notice allowing 21 days to comply with the requisition.
In the event of non-compliance with the final notice, dealings will be dealt with as follows :
(a) When the dealing which is under requisition and on which a final notice has been sent is the first dealing in the series and the other dealings cannot be registered without the registration of the first dealing; then all the dealings in the series will be refused.
(b) Where the first dealing is in registrable form and a later dealing/s in the series is under requisition and final notice; then the earlier registrable dealing/s will be registered, the unregistrable dealing/s will be refused.
2. Partial Discharges of Mortgage
With the introduction of Section 169A of the Land Titles Amendment Act 1996
, three separate partial discharge of mortgage forms were approved.(a) Partial Discharge of Mortgage (Part of Land) PDM
There are two instances when this form may be used :
(i) Where a mortgage is registered on several titles, and all the land in one of those titles is to be discharged from the security, then only the volume and folio numbers of that title should be inserted in the "description of land" panel.
(ii) If the land to be discharged from the security is part only of the land in a title this should be stated together with the lot and plan number in the space provided in the description of land panel, eg. Part being Lot 2 on Sealed Plan No. 120864.
All mortgagees must sign this form.(b) Partial Discharge of Mortgage (Part of Monies) PDI
This form is used where security is to be discharged only as to part of the principal sum, ie. the principal sum is reduced but no land is released from the security. (c) Partial Discharge of Mortgage (Personal Responsibility) PD2
All mortgagees must sign this form.
There are two instances when this form may be adapted :
(i) Where there are several mortgagors and the personal responsibility of one of the mortgagors is to be discharged. All mortgagees must sign this form.
(ii) This form may also be adapted where one of several mortgagees discharges his/her security, eg. the principal sum of $20,000 was contributed by several mortgagees and $5,000 the amount contributed by A.B. is repaid.In this case only A.B. need execute the partial discharge.
Clients should ensure that the correct partial discharge of mortgage form is used to avoid requisitions being issued by the Land Data Registration Branch.
3. Approved Forms on Disk
Clients are once again reminded that the forms on the disk are approved forms pursuant to Section 169A Land Titles Act 1980
. The disk must not
be manipulated or altered in any way to vary the content of the forms.MICHAEL DIXONRecorder of Titles