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LAND ACT 1994 - SECT 288A
Original mortgagee to confirm identity of mortgagor
288A Original mortgagee to confirm identity of mortgagor
(1) This section applies to— (a) the mortgaging of a lease or sublease; and
(b) an amendment of a mortgage mentioned in paragraph (a) .
(2) Before the
mortgage or amendment is lodged for registration, the mortgagee under the
mortgage (the
"original mortgagee" ) must take reasonable steps to ensure the person who is
the mortgagor under the mortgage or amendment is identical with the person who
is, or who is about to become, the lessee of the lease or sublessee of the
sublease.
(2A) For subsection (2) , a person is the mortgagor under a
mortgage or amendment of mortgage if the person executes the mortgage or
amendment as mortgagor, including, if the mortgage or amendment is an
electronic conveyancing document, through a subscriber digitally signing the
document under the Electronic Conveyancing National Law (Queensland) .
(2B)
Also, for subsection (2) , a person is the mortgagor under a mortgage or
amendment of mortgage if the mortgage or amendment is an
electronic conveyancing document and the person signs, as mortgagor, a
document that under the participation rules under the Electronic Conveyancing
National Law (Queensland) — (a) is required as a supporting document for the
mortgage or amendment of mortgage; and
(b) is required to be kept by the
original mortgagee.
(3) Without limiting subsection (2) , the
original mortgagee takes reasonable steps under the subsection if the
original mortgagee complies with practices included in the manual of land
title practice under section 286A (2) (c) for the verification of
identification of mortgagors.
(4) The original mortgagee must, for 7 years
after the mortgage or amendment is registered, and whether or not there is
registered a transfer of the mortgage— (a) keep, in the approved form, a
written record of the steps taken under subsection (2) ; or
(b) keep
originals or copies of the documents and other evidence provided to or
otherwise obtained by the original mortgagee in complying with subsection (2)
.
Penalty— Maximum penalty—20 penalty units.
(5) The registrar of
titles may, whether before or after the registration of the mortgage or
amendment, and whether or not there has been registered a transfer of the
mortgage, ask the original mortgagee— (a) to advise the registrar about the
steps taken by the original mortgagee under subsection (2) ; and
(b) to
produce for the registrar’s inspection the written record mentioned in
subsection (4) (a) or the originals or copies mentioned in subsection (4) (b)
.
(6) The original mortgagee must comply with a request under subsection (5)
unless the original mortgagee has a reasonable excuse. Penalty— Maximum
penalty—20 penalty units.
(7) This section applies to a mortgage only if
it is executed after the commencement of this section.
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