Queensland Consolidated Acts

LAND ACT 1994 - SECT 288B

288B Mortgage transferee to confirm identity of mortgagor

(1) This section applies to the transfer of the mortgage of a lease or a sublease.

(2) Before the transfer is lodged for registration, the transferee under the transfer (the
"mortgage transferee" ) must take reasonable steps to ensure that the person who was the mortgagor under the mortgage was identical with the person who, when the mortgage was registered, was the lessee of the lease or sublessee of the sublease.

(2A) For subsection (2) , a person was the mortgagor under a mortgage if the person executed the mortgage as mortgagor, including, if the mortgage 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 was the mortgagor under a mortgage if the mortgage is an electronic conveyancing document and the person signed, as mortgagor, a document that under the participation rules under the Electronic Conveyancing National Law (Queensland) —

(a) was required as a supporting document for the mortgage; and

(b) was required to be kept by the original mortgagee mentioned in section 288A (2) .

(3) Without limiting subsection (2) , the mortgage transferee takes reasonable steps under the subsection if the mortgage transferee 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 mortgage transferee must, for 7 years after the transfer of the mortgage is registered, and whether or not there is registered a further 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 mortgage transferee 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 transfer of the mortgage, and whether or not there has been registered a further transfer of the mortgage, ask the mortgage transferee—

(a) to advise the registrar about the steps taken by the mortgage transferee 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 mortgage transferee must comply with a request under subsection (5) unless the mortgage transferee has a reasonable excuse.

Penalty—

Maximum penalty—20 penalty units.

(7) This section applies to a transfer of a mortgage only if the transfer is executed after the commencement of this section.

(8) However, this section applies in relation to a mortgage whenever executed.