on 20-06-2018 09:01 AM
I need to lodge a standalone discharge of mortgage as second mortgagee. Do I have to invite the 1st mortgagee to the workspace?
on 22-06-2018 08:35 PM
In Victoria, after you create your discharge of mortgage document, you would ask the first mortgagee to create and lodge a nomination (similar to "make the title available"). It is important that there's a document in your lodgement case before the nomination is lodged.
Here's some help material which describes the process in each state.
24-04-2019 08:22 AM - edited 24-04-2019 08:48 AM
We're still confused on the Discharge of a second Mortgage issue. We have two on the go today.
First matter is in Victoria. We're on first and CBA are on second. We are in the role of Mortgagee on Title. We're Discharging our Mortgage so that CBA becomes first Mortgagee. CBA are currently unrepresented so we are the responsible subscriber and the eCT Control can only issue to us. Should we be inviting CBA to the workspace? p.s. we haven't been required to create/lodge a Nomination.
Second matter is in NSW. Westpac are on first and we are on second. Both are acting in the role of Mortgagee on Title. We're Discharging Westpac's Mortgage via a financial settlement so that we become first Mortgagee. The responsible subscriber is currently Westpac so they will need to complete the lodgement instructions. Is that correct and will CoRD issue to us?
on 24-04-2019 09:30 AM
We've had further discussion and would recommend
1) complete the discharge and retain eCT control.
2) Post completion of discharge create a transfer Transfer of CT Control - instructions are here: Transfer CT Control Guide
LRS will automatically transfer CoRD to the 1st Mortgagee when you complete the discharge
Let us know if you have further questions.
3 weeks ago
Hi Cam, just to let you know the CBA declined our Transfer of eCT Control. We'll ring them and find out who we need to explain the situation to.
Might be an idea to have a field as part of the eCT Transfer where you can add notes in relation to transfer, for the invited party's information. I don't think just the title reference cuts it.
3 weeks ago
Hi @BGoodwin, thanks for the feedback. I will also follow up with CBA to check they have correct process in place for evaluating these requests.