Land Titles Act 1993 · 2020 Revised Edition · Part 8 · Mortgages and Charges
68. Form and effect of mortgages and charges
Feedback & supportRegistered land may be mortgaged to secure payment of a debt by an instrument of mortgage in the approved form.
registered land
“registered land” means land which has been brought under the provisions of this Act by being included in a folio;
Registered land may be charged to secure payment of a rentcharge, annuity or other periodical sum, or of any money other than a debt, by an instrument of charge in the approved form.
instrument
“instrument” includes a transfer, lease, mortgage, transmission application, charge and any other application, or any other document in writing relating to any disposition, devolution or acquisition of land or any claim to or vesting of interest in land;
A mortgage does not operate as a transfer of the land mortgaged, but has effect as a security only.
land
“land” means —(a)the surface of any defined parcel of the earth, so much of the subterranean space below and so much of the column of airspace above the surface whether or not held apart from the surface as is reasonably necessary for the proprietor’s use and enjoyment, and includes any estate or interest therein and all vegetation growing thereon and structures affixed thereto; or(b)any parcel of airspace or any subterranean space whether or not held apart from the surface of the earth and described with certainty by reference to a plan approved by the Chief Surveyor and filed with the Authority, and includes any estate or interest therein and all vegetation growing thereon and structures affixed thereto,and where the context so permits, the proprietorship of land includes natural rights to air, light, water and support and the right of access to any highway on which the land abuts;
There may be included in an instrument of charge such covenants or provisions as the parties think fit for disposing of the moneys which may arise on the exercise by the chargee of the chargee’s power of sale, either by setting aside the proceeds of sale or part thereof on investment to meet future periodical payments, or by payment to the chargee of such proceeds or part thereof being the estimated capital value of the chargee’s interest, or otherwise.