ADIS Code - SM
A sub-mortgage uses a mortgage (called the head mortgage) over land as the security.
There is no short form for a sub-mortgage; it must be in the form of a deed.
The head mortgage is not required.
Lodgment requirements
Stamp duty - Required if dated on or after 1.1.1975. If not marked, Registration insisted upon is prohibited.
Not required if dated before 1.1.1975.
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 - Mortgage-Sub-mortgage.
(C) Locality - Not required.
Link Conveyance - Not required.
Principal Deed - The registered affected mortgage.
(D) Indexing - The sub-mortgagor and the mortgagor of the affected mortgage.
(E) Certification - Required.
Document requirements
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 sub-mortgagor and the mortgagor of the affected mortgage are required. Advise the lodging party of any discrepancies in names.
Operative clause: "... hereby mortgage...".
Tenancy: where the sub-mortgage does not clearly state the tenancy of the sub-mortgagees, joint tenancy is presumed:
- contains a joint account clause, joint tenancy is assumed or
- discloses that the advance was made in shares, tenants in common in those shares is assumed.
Execution: by the sub-mortgagor. A power of attorney must be registered. The mortgagor of the affected mortgage or the sub-mortgagee do 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
If the head mortgage is unregistered, enter the sub-mortgage under the General Frame, ie code "G", with a Noting: "Sub-mortgage affecting unregistered mortgage dated ...". The Locality and the Link Conveyance are required. Enter the sub-mortgagor and the head mortgagor as Vendors entries.
CA Not required.
Indexing
Locality: nil.
Link Conveyance: nil.
Principal Deed: required. The registered affected mortgage.
Noting: "Affecting [description of the land]".
If Old System land is affected and:
- 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 sub-mortgagor and the head mortgagor, deceased estates or trusts, and any variations thereof.
P: nil.