Joint mortgages

What to do when you have joint mortgagees in your dealing.

Check the 'joint' checkboxes in the Mortgagee details field when the mortgagees are joint mortgage holders (see A in figure 1).

Joint mortgagees - fig 1<

 

If this field is not checked the preview of the instrument will appear to be correct (see B in figure 2).

Joint mortgagees - fig 2

 

However, once registration is completed, the mortgage memorials indicate that the mortgage is in shares, which is not what was intended (see C in figure 3).

Joint mortgagees - fig 3

 

When the 'joint' checkboxes are checked in the mortgagee details (Figure 1), the information presented in the preview will be correct. Once registration is completed, the mortgage memorials display the correct information and there is no mention of shares (see D in figure 4).

Joint mortgagees - fig 4

 

From Release 3.0, when a mortgagee is added, the 'joint' checkbox will automatically be checked as this situation is more common.