Section 73

Upon proof of the death of the annuitant, or of the occurrence of any other event or circumstance upon which the annuity or other money secured by a charge ceases to be payable, and upon proof that there are no substantial arrears of the annuity or other money, the Registrar shall enter in the land-register a notification of satisfaction and the land is thereupon freed from the charge and from all rights and powers of the chargee, but without discharging the chargor from personal liability for any money for the payment of which he has omitted to account.

The Registrar may, in his discretion, accept a statutory declaration of the chargor, or other person having knowledge of the facts, in proof of the state of accounts between chargor and chargee.

The Registrar shall not enter a memorial of satisfaction of a charge under this section where the money unaccounted for exceeds the sum of $500.[69