Registration Fee on Release of Mortgage

Discussion in 'Legal Issues' started by mojorising, 21st Mar, 2019.

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  1. mojorising

    mojorising Well-Known Member

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    Gold Coast, QLD
    As part of the settlement statement on my QLD purchase there is an item called

    Registration Fee on Release of Mortgage

    This is for $187

    I am paying cash, no mortgage.

    The seller has a private mortgage (from a family member) secured against the property.

    I am a bit puzzled as to why there is an item on my expense list associated with the sellers mortgage release.

    Does anybody know why this is the case?

    Thanks
     
  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    Purchaser pays discharge of mortgage and then oncharges this to seller at settlement
     
  3. Peter_Tersteeg

    Peter_Tersteeg Mortgage Broker Business Member

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    Get your conveyancer to confirm this, but most likely you're paying the fee at settlement, but it's deducted from the amount you pay the vendor.

    It's not unusual for all fees, charges, outstanding rates, loans, any anything else to be paid from the purchasers pool of money, then an adjustment made on how much the vendor receives.
     
  4. Perthguy

    Perthguy Well-Known Member

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    You should probably ask the person who sent you the statement.
     
  5. mojorising

    mojorising Well-Known Member

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    Gold Coast, QLD
    ^^^Thanks Terry

    ^^Thanks Peter