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DUTIES ACT 1997 - SECT 227
Unregistered mortgages protected by caveats (anti-avoidance provision)
227 Unregistered mortgages protected by caveats (anti-avoidance provision)
(1) A caveat under the Real Property Act 1900 in which an estate or interest
is claimed under an unregistered mortgage is chargeable with duty.
(2) The
amount of duty is-- (a) if the mortgage is chargeable, but not stamped, with
mortgage duty--the same amount as is chargeable on the mortgage, or
(b) if
the mortgage is stamped, or is not chargeable, with mortgage duty--$100.
(3)
The person liable to pay the duty is the mortgagor.
(4) This section does not
apply to a caveat lodged in respect of a mortgage that is exempt from mortgage
duty under Part 4.
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