Form 05VM (PDF 600 KB)
Dealing type - VM
Legislation - s91 Conveyancing Act 1919
Stamp duty - not required
Certificate of Title - required for a variation of a first mortgage.
Not required for a variation of a second or subsequent mortgage.
NOS form - not required.
Standard form of Caveat - prevents registration.
Priority Notice noted on the Register - see Priority Notice page.
NOTE: This dealing type signed on or after the 22/3/2021 must be lodged electronically using an Electronic Lodgment Network (see Conveyancing Rules 8.7 and 8.8).
Where a required mandated dealing is excluded from electronic lodgment or circumstances allow the Registrar General to waive electronic lodgment under Conveyancing Rules 8.7 and 8.8, the incoming dealing must be accompanied with the Conveyancing Rules Exemptions form 2021 indicating the exemption.
Minister's consent is required for a variation of the mortgage where it was initially required for the mortgage and the restriction still applies.
NOTE: A charge or covenant charge cannot be varied.
(A) The reference to title for the land affected must be stated. The mortgage must be varied as regards the whole of the land in the folio affected by the mortgage. The land mortgaged cannot be varied.
(B) The registered number of the lease or mortgage affected by a mortgage being varied must be stated. The reference to title for the land affected must be stated.
(D) The full name of the mortgagor must be stated and must be identical to the name of the registered proprietor of the estate or interest affected as shown on the Torrens Title Register.
(E) The registered number of the mortgage being varied must be stated.
(F) The full name of the mortgagee must be stated and must be identical to the name of the mortgagee as shown on the Torrens Title Register.
(G) The relevant items 1 to 4 must be completed. Items not used must be deleted and verified. At least one item must be completed.
Item 4
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.
NOTE: A variation of the distribution of the principal sum between the registered mortgagees is accceptable but does not alter the tenancy and/or shares of the mortgagees as registered. An alteration of tenancy/shares must be effected by a Transfer of Mortgage form 05ML.
(H) The dealing must be executed by the mortgagor and mortgagee and be witnessed, or be executed on their behalf as follows:
| |
Attorney and witnessed |
Solicitor or Barrister |
Authorised Officer and witnessed |
Licensed Conveyancer |
| Mortgagor |
 |
if benefiting |
|
if benefiting |
| Mortgagee |
|
if benefiting |
|
if benefiting |
See execution requirements for companies, witnesses etc pages.
Staff processing information
If in order proceed with registration except for the following.
Refer to SD31
A variation of mortgage involving:
- an Aboriginal Association or corporation
- the NSW/Local Aboriginal Land Council.
Registration procedure
PRIME CODE code of mortgage being varied as shown on the Register
PRIME NO. number of mortgage
SUB CODE UMV.
Variation of mortgage of lease or mortgage
PRIME CODE code of head lease etc as shown on the Register
PRIME NO. number of head lease etc
SUB CODE UA
DETAILS Variation Of Mortgage [number of mortgage varied].