MC (mortgage of charge)
Before lodging this document electronically via an Electronic Lodgment Network, a Subscriber must comply with all applicable requirements in the NSW Participation Rules relating to verification of identity, verification of the right to deal, client authorisations and retention of evidence.
The Subscriber must also certify that they have taken reasonable steps to ensure that the instrument is correct and compliant with relevant law and any Prescribed Requirement.
The Subscriber is required to provide the applicable certifications in Schedule 3 of the NSW Participation Rules.
For more information on these requirements see: Residual Documents
Guide to complete
Stamp duty – not required
NOS form - not required.
Standard form of Caveat:
Mortgage - prevents registration.
Mortgage of Lease/Mortgage or Charge - prevents registration if the caveat is drawn against the mortgage, lease or charge.
Priority Notice noted on the Register - see Priority Notice page.
NOTE: Electronic lodgment is mandatory for all Mortgages unless a Lodgment Exception Rule applies. If an exception is applicable, the Mortgage must be lodged as a Dealing With Exception.
A Mortgage cannot be recorded on the common property folio of a strata scheme (section 32(4) Strata Schemes Development Act 2015).
The dealing must not include any reference to the mortgagor or mortgagee being a trustee, executor or administrator for another party.
Minister's consent is required:
See Greg Stilianou, Land Titling Law and Practice in NSW, Lawbook Co. 2013 re:
The Jurisdiction must be New South Wales.
Select the Lodgment type and apply.
The estate and/or interest being mortgaged must be selected or inserted.
The reference to title for the land affected by the mortgage must be stated.
A mortgage affecting part of a current lot, e.g. a mortgage of 'part of the land formerly comprised in ...', will not be accepted unless a mortgage is already registered to the same mortgagee affecting the remainder of the land in the title.
Where the mortgage is creating an easement, enter the reference to title for the servient tenement in ITS. See section 56(4) Real Property Act 1900 and Baalman And Wells, Land Titles Office Practice, Lawbook Co. 2001 [385.300].
The full name of the mortgagor must be stated and must be identical to the name of the registered proprietor or the name of the lessee, mortgagee or chargee as shown on the Register. The mortgage may be for a share or interest only.
NOTE: Where a mortgage is only as regards the interest of a joint tenant, the mortgage is extinguished if the joint tenant dies. A Request form 11R lodged as a Dealing with Exception to remove the mortgage may be lodged following lodgment of a Notice Of Death.
The full name of the mortgagee must be stated.
Tenancy/shares must be stated where there is more than one mortgagee. Reference to the tenancy/shares will not be entered on the Torrens Title Register.
Document Reference panel. The relevant memorandum must be specified.
Additional terms and conditions may be added to up to 4000 characters or can be referred to an annexure. Any annexure must be identified as such. Each page must be numbered. The first and last pages and any alterations or additions must be signed by all parties.
Execution requirements for National Mortgage
For the execution requirements for mortgagors and mortgagees, refer to the current National Mortgage Form Design Specification - NSW Addendum, which can be accessed via the ARNECC website.
NOTE: The corporate collective investment vehicle (CCIV) regime commenced on 1 July 2022. For the execution requirements for CCIVs, see Execution under common seal and Execution without common seal.
In addition to evidence supporting the steps taken by the Subscriber to verify the identity of their Client and establish their Client’s right to deal, the Subscriber may be required to retain other evidence to support the dealing.
It is a matter for the Subscriber to be satisfied that they have met the requirements for the dealing. Please refer to the ARNECC Guidance Note 5 for assistance on retaining evidence to support conveyancing transactions in accordance with the NSW Participation Rules.
All NSW legislation can be accessed at www.legislation.nsw.gov.au
Staff processing information mortgage
Refer to SM99
Where the mortgage appears to create an easement.
Refer to SD6
A mortgage involving:
Refer to Legal through the Senior Examining Officer
PRIME CODE M (where no mortgagee code exists)
MA etc (where a mortgagee code exists in ITS)
CODE (name) P, C or Q where Prime Code M is selected [name of mortgagee].
Affecting the share/interest of a registered proprietor
DETAILS As Regards The Share/Interest Of [name of mortgagor].
Staff processing information mortgage of lease/mortgage or charge
If in order proceed with registration except for the following.
Refer to SD2
A mortgage of lease affecting a title held or managed by SD2.
Refer to Legal through the Senior Examining Officer
of a lease for less than the full term of the lease
where there is doubt as to the corporate status of the mortgagee
affecting a Book and No. lease accompanied by evidence of devolution of the lease.
Mortgage of lease or mortgage
PRIME CODE code of lease or mortgage as shown on the Register
PRIME NO. number of lease or mortgage
CODE (name) P, C or Q [name of mortgagee].
Mortgage of charge
DEALING TYPE MC
PRIME CODE code of charge as shown on the Register
PRIME NO. number of charge
SUB CODE UA
DETAILS Mortgage Of Charge To [name of mortgagee].
Affecting a Book and No. lease with satisfactory evidence of devolution
ADD. TRANSACTION UNDR
PRIME CODE code of lease as shown on the Register
PRIME NUMBER number of lease
SUB-CODE ULD (Devolution Of Lease).
Further information on mortgage of lease/mortgage or charge
A mortgage of more than one lease, mortgage or charge involving the same mortgagor (e.g. the same lessee) and mortgagee is a multiple instrument. See Fees page.
A mortgage of lease affecting a lease carried forward as a subsisting interest, i.e. 'Bk ... No. ... Lease To ...' must either:
be registered as a deed in the General Register of Deeds and a Request form 11R together with an Old System search showing the party entitled to deal with the lease must be lodged to record the interest. A change in proprietorship must be registered in the General Register of Deeds. See Baalman And Wells, Land Titles Office Practice, Lawbook Co. 2001 [390.100]. Note The Mortgage of Lease form 05ML cannot be registered in this instance or
be accompanied by:
- an Old System search of the leasehold title and
- a statutory declaration made by the person who undertook the Old System search of the leasehold title stating:
- their qualification
- that he or she has inspected all deeds since the leasehold title was created to the present time
- the registered Book and No. and type of all instruments inspected to show the leasehold title has not expired and
- the registered Book and No. and type of all instruments to which the leasehold estate is subject.
A notification (code ULD): 'Devolution of Lease' is entered in the Second Schedule and all further transactions affecting the lease may be lodged on a Real Property Act form and do not require further evidence of devolution.
Refer to Legal through the Senior Examining Officer in both instances.
Publish date: October 2023