on 02-12-2021 03:34 PM
Am I right in thinking that if there is a mortgage, and the release/discharge has not been created, then the amber warning will appear on the signing screen?. But if (1) there is a mortgage on title and no invitation to the w/s has been sent to the mortgagee on title or (2) the release/discharge has been created but not signed by the mortgagee on title, then no amber warning appears?
on 02-12-2021 10:51 PM
Thanks Kevin. You’re right about the first part, I’m just not sure about the status of the invitation in regards to the alerts, so I’ve forwarded to our experts. We’ll come back to you ASAP.
on 03-12-2021 11:37 AM
The warning will show until all mortgages on title are included in release/discharge documents, regardless of whether they're signed.
Answers to your specific scenarios:
(1) The warning will show, regardless whether an MoT has been invited or not.
(2) The warning will not show as a release/discharge document exists and includes the mortgage on title. It doesn't matter that the document hasn't been signed.
I hope that helps.
on 04-12-2021 11:19 AM
Thanks so much, Marty and Kate, that does help enormously.
Could I suggest that the content and significance amber warning could be made a little more explicit in connection with this point. It could and should read:
"It appears from Registry information that this lodgement case references a Property that does not have clear title AND THAT THERE IS AT LEAST 1 MORTGAGE ON TITLE FOR WHICH A RELEASE/DISCHARGE HAS NOT BEEN CREATED."
Many lawyers and conveyancers will have in the back of their minds -- even if they don't think through the matter carefully -- the following reaction to the amber warning in its present form: "Of course, there is a mortgage on title which will be released only on settlement; that explains why, at this moment in time, the Property does not have clear title..."
on 08-12-2021 01:21 PM
Good suggestion. That does make it clearer. I'll add this to our to do list.