Singapore legislation
Clause 78
Clause 78
Discharge of mortgages and charges
(1)
The parties may agree to the discharge of —
the whole of the mortgaged or charged land from a specified part of the principal sum or other money thereby secured;
a part of the mortgaged or charged land from the whole of the principal sum or other money thereby secured; or
the whole of the mortgaged or charged land from the whole of the principal sum or other money thereby secured, but without discharging the mortgagor or chargor from any personal obligation to pay that money.
(2)
A discharge of mortgage or charge shall be registered by entering a memorial thereof on the relevant folio whereupon the land shall be freed from the mortgage or charge and from all rights and powers of the mortgagee or chargee, either absolutely or to any lesser extent as expressed in the discharge.
(3)
Where a discharge was executed as a separate instrument in respect of a mortgage registered prior to the commencement of this Act, the Registrar —
shall dispense with the production of the duplicate copy of the relevant mortgage where all the land mortgaged under the mortgage was to be wholly discharged; or
may dispense with the duplicate mortgage where there is satisfactory proof that the duplicate mortgage was lost or destroyed and only part of the land mortgaged under the mortgage was to be discharged and, in such a case, the Registrar may issue, at a prescribed fee, a certified true copy of the mortgage with the appropriate entry endorsed to show the discharged lot.