A Release of Mortgage Document is essential in Australian property transactions when a mortgage has been fully repaid or the lender agrees to release their security interest in the property. This document is required by Land Registry Offices across Australian states and territories to formally remove a registered mortgage from a property's title. The Release of Mortgage Document must include specific details such as the mortgagee and mortgagor information, property details, mortgage registration number, and appropriate execution clauses. It is commonly used in property sales, refinancing situations, or when a loan has been fully repaid. The document must comply with relevant state/territory legislation and can be lodged either in paper form or, increasingly commonly, through electronic lodgment platforms like PEXA.
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1. Title and Date: Clearly states this is a Release/Discharge of Mortgage document and the date of execution
2. Mortgagee Details: Full legal name and address of the mortgagee (lender) releasing the mortgage
3. Mortgagor Details: Full legal name and address of the mortgagor (borrower) whose property is being released
4. Property Description: Legal description of the property including title reference, lot number, and registered plan details
5. Mortgage Identification: Details of the mortgage being released including registration number and date
6. Release Declaration: Formal statement declaring the release of the mortgage
7. Execution Block: Space for mortgagee's authorized signature, witness details, and execution date
1. Partial Release Details: Required when only part of the secured property is being released from the mortgage
2. Multiple Mortgagee Declaration: Required when there are multiple mortgagees releasing their interest
3. Prior Encumbrances: Required when there are other registered interests that affect the release
4. Consideration Statement: Optional statement confirming that the mortgage debt has been repaid or satisfied
5. Consent of Subsequent Mortgagee: Required when there are subsequent mortgagees whose consent is needed for the release
1. Property Schedule: Detailed description of all properties being released when multiple properties are involved
2. Partial Release Plan: Survey plan or detailed description of the portion of property being released in case of partial release
3. Authority Documentation: Copies of power of attorney or corporate authorization documents proving authority to sign
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Release Of Real Estate Mortgage
An Australian legal document that formally discharges a mortgage over real property, terminating the mortgagee's security interest once registered with the land registry.
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Release Of Mortgage Document
An Australian legal document that formally discharges a mortgage from a property title, confirming the lender's release of security interest in the property.
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