Hi Nicola,
Apologies - may I please confirm the issue at hand. Here is what I understand you are asking.
Your organisation is first mortgagee and holds CT Control.
There are multiple mortgages on title, which rank 2nd, 3rd and perhaps 4th.
One of the lower ranking mortgagees is seeking to Discharge.
In this case, I would expect that the lower ranking mortgagee would invite your organisation into the workspace to Nominate the title to the Discharge of Mortgage. I would also expect that your organisation would specify to retain CT Control following lodgement of the Discharge dealing.
While you could Transfer CT Control to lower ranking Mortgagee, I don't see why you would do so. Your organisation will remain as first mortgagee and so ought retain CT Control.
Alternatively, the above is not the scenario.
Perhaps your question is related to your organisation as Discharging Mortgagee wishes not to receive the pCT following Discharge and wants to pass CT Control to the (previously second) now first Mortgagee via Discharge of the Mortgage by your organisation.
LUV rules do not allow this. The VIC Registrar (rightly) requires that both the CT Controller and CT Control recipient actively agree to send and receive CT Control.
So, what can you do?
Upon Discharge, select to retain eCT Control.
Post registration of the Discharge, then, in a second wspace, Transfer CT Control to the (previously second) now first, mortgagee.
The only other alternative is to receive the pCT and physically pass it to the now first mortgagee.
Please let me @GeorgePolus know if I have not understood your question.
Regards,
George
... View more
