To prepare a Partial Discharge of Mortgage:
- Note: To prepare a simple discharge follow the steps highlighted. Select the Partial Discharge in the Create Dealing screen and click 'Prepare' to open the Prepare Discharge screen.
- Select Part of Land/Complex mode to activate the Description of Part field (if applicable).
- If there is only one mortgage on the title, that mortgage will display in the Affected Instrument No field. If there are multiple mortgages, select the mortgage to be discharged from the drop-down list.
- Enter the description of land to be discharged.
- e.g. Lot 1 DP 1234 containing 145m2
- At this stage you can click 'Add image' to attach an image (if required).
For details on how to complete this process see C2.2.4.
- Review the Mortgagee name.
- Add or delete Mortgagee names, if required.
- Only uncheck Reserve personal covenants for a discharge or partial discharge of mortgage if you do not need to protect the rights and remedies of the mortgagee.
- Click 'Save & close' to save the Partial Discharge.
Note: To restore pre-populated names in the Charge Holders (eg Mortgagee) section of this screen click 'Restore'.
The Change Due to Pending Dealing checkbox default is unchecked. When checked, the Charge Holder (eg Mortgagee) data window becomes editable and displays add and delete buttons.
Click 'Pre-validate' before clicking 'Save & close'.
Check the Clarify Intent (if required) check box to activate the text field where any additional information can be added.
Click 'Preview' to review the instrument you have just prepared.
Fields marked with a red * are mandatory and must be completed.