2nd mortgage registration.

Hi guys,

With the new electronic lodgement system can a legal guru explain how a second mortgage can now be lodged? The bank has signed a deed of priority and now i need to register my mortgage over the asset. How does it work now and how quickly?

Thanks

 

The second mortgagee will lodge the second mortgage. Their lawyers should liaise with the Land Titles Office. The exact process depends on whether the certificate of title is electronic or paper.

 

Thanks Kate. Can a mortgage be registered if a caveat exists?

 

Yes, if the caveator agrees.

But generally banks will not provide a mortgage if there is a caveat on the title with priority.

The caveator may need to be paid out.