Prepare a partial discharge/withdrawal in Share/Interest mode

How to partially discharge or withdraw a party's share or interest in an affected instrument.

Overview 

You can prepare a partial discharge/withdrawal in Share/Interest mode in New Landonline.

Share/Interest mode is only available for certain instrument types: 

  • Partial Discharge of Mortgage (PDM) 
  • Partial Discharge of Encumbrance (PENC). 

Mandatory fields are marked by a red asterisk * and must be completed for successful pre-validation, certify and sign, and submission. 

What to do 

  1. Navigate to the Prepare instrument page. 
  • When an instrument is collapsed, select the instrument hyperlink to navigate to the Prepare instrument page. 
  • When an instrument is expanded, select the Prepare  button
  • Use the three-dot icon at the end of an instrument’s row and select Prepare instrument.

 

Screenshot of prepare instrument page with three dot icon and dropdown menu highlighted
  1. Select Share/Interest to change to this mode.  For help on preparing in Titles or Complex mode go to:

 

Screenshot of Prepare instrument page with 'Share/Interest' button highlighted
  1. Check the instrument number is correct. If the Affected instrument field is blank use the dropdown and select the relevant instrument from the list.

 

Shows drop down box of affected instrument with owner/mortgagor selected
  1. Select whether you are discharging in respect of the share/interest of the: 
  • Owner, Mortgagor or Encumbrancer or, 
  • Mortgagee or Encumbrancee.
     
Screenshot of Prepare instrument page with 'Owner/Encumbrancer' option highlighted

5. The existing Owner/Mortgagor/Encumbrancer or the Mortgagee/Encumbrancee names will automatically display but are read-only. However, you can use the:

  • Change due to pending dealing toggle above the Affected Instrument to edit, add or delete the names displayed. For example, use when an instrument in a prior dealing or a prior instrument in the same dealing is changing an interest holder's name.  
  • Revert / Update button to re-set the names to reflect the Register or to update names from any prior instrument in the dealing. For example, if the interest holder details have been edited using Change due to pending dealing, it will revert to what is recorded on the Register. Or, if a prior instrument has been added to your dealing which changes the interest holder, using Revert / Update will pull through the updated names.

 

Note

Go to Legacy Landonline to add an alias or other details

 

Screen showing fields where you can check owner and mortgagors of an affected instrument and revert and update buttons
  1. Check the relevant boxes to indicate who is discharging their share or interest. 

 

Screen showing how you can select the names of an owner or mortgagor
  1. If applicable, when discharging a mortgage or encumbrance, uncheck the Reserve personal covenants checkbox if the parties haven’t made these arrangements relating to the rights and remedies of the Mortgagee/Encumbrancee.

     

    Screenshot of Reserve personal covenants check box
  2. The Summarytab will automatically update and display a read-only summary of some key details entered on the left-hand side of the page.  
  • Use the Preview instrument button to view, print or download the full instrument preview, including any ‘Add Text’ fields, certifications and signatures.

 

Screenshot showing Preview instrument button highlighted on the right of the Summary tab
  1. Save the instrument details located at the bottom right of the page. 
  • Use Save to save the information and remain on the Prepare instrument page. 
  • Use Save & back to save the information and return to the Instruments & Roles page. 
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