Paper Discharge

[Limeconveyancing]

I act for vendors selling a property.  There is a mortgage listed on the title to a private lender individual.  The loan was paid out in 1998 and the signed Disharge of Mortgage provided to my clients.  I have the paper title and the paper Discharge of Mortgage.  Can I settle this matter on PEXA??

[GeorgePolus]

Toni-Maree

I cannot speak for NSW LRS, but I expect they will do one of two things.

1.   Allow the Proprietor (or their representative) to lodge the Paper Title and Discharge over the counter in paper.  or;

2.  Require that the Mortgagee (who is still on title from the Registrar's perspective) to lodge an electronic Discharge of Mortgage. 

If LRS require Option 2 above, then your client will need to contact the original Mortgagee to initiate the Discharge process.   Given the Mortgagee is a private Mortgagee, they will need to be represented under a CAF. 

The Discharge may be lodged separately, or in combination with (in the same lodgement case) the Transfer that your client is seeking to effect. 

Please let me @GeorgePolus know if you have more questions. 

Rgds

George