You are viewing guidance that refers to, or is for legacy Landonline.

Complex mortgages

Let's have a look at some complex mortgages, those with multiple mortgagees and extra information or clauses.

  • Always enter each mortgagee on a separate line
  • Use the add button to give you a blank row
  • Ensure the Joint check box is checked if required
  • If mortgagees are to have shares then uncheck the Joint check box and enter the share in the Share of Mortgage field
  • For any information other than the mortgagee name use the Part of Land/Complex Mode and click the Add Text button to enter the information such as a limited liability clause
  • Always preview to check that the details display correctly

Scenario: John Thomas Smith and Gordon Consulting Limited are the current registered owners they have mortgaged their property with three private mortgagees (A) – Ethel Margaret Floyd (B) – Duane Marcus Floyd and (C) - Angel Kirk Santa

  • How do you complete the template?
  • Step 1 – select correct Mode (Radio Button) in this case All of Title (this is the default)
  • Step 2 – check Mortgagor/s Name/s are correct
  • Step 3 – click in Name field and enter mortgagee (A) Ethel Margaret Floyd in blank row
  • Step 4 – click Add to insert a blank row and enter mortgagee (B) Duane Marcus Floyd
  • Step 5 – click Add to insert a blank row and enter mortgagee (C) Angel Kirk Santa
  • Step 6 – complete relevant Mortgage details i.e. Memorandum Number, Type of Mortgage (All Obligations or Fixed Sum), Priority Amount
  • Step 7 – click Preview to check the mortgagee names displayed are in the correct order and mortgage details entered are correct.

 

Complex mortgages - how to complete the template