Queensland Consolidated Acts

LAND ACT 1994 - SECT 342

342 Releasing a mortgage

(1) If a release of mortgage is lodged, the registrar of titles may register the release to the extent shown in the release.

(2) The release of mortgage may release the debt or liability secured for—

(a) all or part of the mortgage; or

(b) 1 or more of the mortgagors.

(3) On registration of a release of mortgage, the mortgage is discharged, and the lease is released from the mortgage, to the extent shown in the release.