Western Australian Current Acts

[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

TRANSFER OF LAND ACT 1893 - SECT 126

126 .         Payments under and discharge of mortgages when mortgagee absent from State etc.

        (1)         In case a mortgagee or his transferee shall be absent from Western Australia and there be no person authorised to give a receipt for the mortgage money at or after the date appointed for payment thereof it shall be lawful for the Treasurer to receive such mortgage money with all arrears of interest due thereon in trust for the mortgagee or other person entitled thereto; and thereupon the interest upon such mortgage shall cease to run or accrue.

        (1A)         The Registrar shall upon production of the receipt of the Treasurer for the amount of the mortgage money and interest make an entry in the Register discharging the land from such mortgage stating the time at which such entry was made; and such entry shall be a valid discharge from such mortgage.

        (1B)         If the land is the subject of —

            (a)         a paper title, the Registrar shall make a corresponding entry on the duplicate certificate of title (if any) when produced to him for that or any other purpose; or

            (b)         a digital title, the Registrar shall cancel the duplicate certificate of title (if any) and may issue a new edition of the duplicate certificate of title in accordance with section 74B(2).

        (1C)         The Treasurer shall from time to time invest all mortgage moneys and interest which shall be received by him under this section together with all dividends and interest which shall accrue thereon in Western Australian Government or Commonwealth securities for the benefit of the persons who shall for the time being be entitled thereto; but nothing herein contained shall render any Treasurer in any manner liable for not investing the same respectively.

        (1D)         The Registrar shall address to the Treasurer requisitions countersigned by the Commissioner to pay to such persons the moneys to which they may be entitled hereunder; and such moneys shall be issued in like manner as moneys are now issued from the Consolidated Account.

        (1E)         In subsections (1) to (1D) —

        mortgage money shall include any outstanding balance of the principal moneys secured.

        (2)         If it be proved to the satisfaction of the Commissioner that the whole of the moneys payable under a mortgage, whether as principal or interest, have been paid and that the mortgagee or his transferee is dead or absent from Western Australia or cannot be found and there is no person empowered or authorised to discharge the mortgage on his behalf the Commissioner may direct the Registrar to make an entry in the Register discharging the land from such mortgage stating the time at which such entry was made and such entry shall be a valid discharge from such mortgage and if the land is the subject of —

            (a)         a paper title, the Registrar shall make a corresponding entry on the duplicate certificate of title (if any) when produced to him for that or any other purpose; or

            (b)         a digital title, the Registrar shall cancel the duplicate certificate of title (if any) and may issue a new edition of the duplicate certificate of title in accordance with section 74B(2).

        [Section 126 amended: No. 6 of 1946 s. 2; No. 17 of 1950 s. 32; No. 6 of 1993 s. 11; No. 81 of 1996 s. 72 and 145(1); No. 6 of 2003 s. 41; No. 77 of 2006 s. 4; No. 19 of 2010 s. 51.]



AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback