ADIS Code - LM
A mortgage of a "Kosciuszko lease" uses the lease or sub-lease as a security.
The original lease or sub-lease is not required.
The question of the Minister's consent to the mortgage will not be considered by NSW LRS. A copy of the consent, if furnished, will be filmed with the registration copy of the mortgage.
Stamp duty - Required. If not marked Registration insisted upon, is prohibited.
An increase in the principal sum must be marked.
Registration copy - Required. If unacceptable, Registration insisted upon is prohibited.
Statement of Title Particulars form - Not required.
NOS form - Not required.
Index Particulars form (completion)
(A) Lodging Party - Must be completed.
(B) Instrument - Lease - Mortgage of
(C) Locality - Not required.
Link Conveyance - Not required.
Principal Deed - Required. The registered affected lease or sub-lease.
(D) Indexing - The mortgagor.
(E) Certification - Required.
Date: must be dated with the date of execution. If not dated advise the lodging party. If a date is not furnished, indicate Registration insisted upon and include the reason.
Name: the full names (initials are acceptable) of the mortgagor, ie the lessee, and the mortgagee are required. Advise the lodging party of any discrepancies in names.
Operative clause: "... hereby mortgages...".
Principal Deed: the number of the affected lease or sub-lease must be identical to the number stated on the IPF.
Execution: by the mortgagor. A power of attorney must be registered, The mortgagee does not have to sign.
Attestation: required. Must be witnessed by a person of 18 years of age or older who is not a party to the document.
IPF: must be completed.
Staff processing information
A mortgage of an unregistered lease or sub-lease must be entered in the General Frame, ie code "G", with a Noting: "Mortgage of unregistered lease/sub-lease dated .... affecting [description of land]". Enter the Locality and Link Conveyance. For an unregistered sub-lease, enter the head lease, if registered, as a Principal Deed. Enter the mortgagor, and the sub-lessor if affecting a registered sublease, as a Vendors entry.
CA Not required
Link Conveyance: nil.
Principal Deed: required. The registered number of the lease or sub-lease being mortgaged
Noting: "Of [description of premises, eg Chalet 14 Squatters Run Thredbo]".
If the assignment:
- an interest, state: "interest in" (or Noting Code: "I"
- a share, state: "[fraction] share"
- part of the land, state: "[affected land description]"
- the land description relies on an attached plan, state: "see attached plan" (or Noting Code: "PL").
V: the mortgagor, deceased estates or trusts, and any variations thereof.