Western Australian Current Acts

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TRANSFER OF LAND ACT 1893 - SECT 105

105 .         Mortgages and charges for annuities, creating

        (1)         The proprietor of land under the operation of this Act may —

            (a)         mortgage the land; or

            (b)         charge the land with the payment of an annuity.

        (2)         A mortgage or charge shall be in an approved form.

        (3)         Subsection (4) applies if —

            (a)         a counterpart of an instrument purporting to mortgage or charge any land under the operation of this Act (the charging instrument ) is lodged for registration in accordance with regulations made under this Act or requirements determined under section 182A; and

            (b)         the counterpart of the charging instrument lodged —

                  (i)         purports to be signed by the person who, on registration of the mortgage or charge, will become the proprietor of the mortgage or charge; but

                  (ii)         does not purport to be signed by the proprietor of the land;

                and

            (c)         a counterpart of the charging instrument purporting to be signed by the proprietor of the land is not also lodged for registration; and

            (d)         the charging instrument is registered.

        (4)         If this subsection applies, the mortgage or charge is not valid or binding against the proprietor of the land unless, before the charging instrument was registered, the proprietor of the land signed a counterpart of the charging instrument.

        (5)         Subsection (4) overrides section 58.

        [Section 105 inserted: No. 81 of 1996 s. 65; amended: No. 2 of 2014 s. 73.]



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