All Topics / Legal & Accounting / Discharge of Mortgage

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  • Profile photo of CharleeBeanCharleeBean
    Participant
    @charleebean
    Join Date: 2009
    Post Count: 1
    September 23, 2009 - 7:42 am

    I had 2 Investment properties which were cross colaterised.  I sold one of them and the other I still owe money on but I have been provided 2 discharge mortgage forms.  I am not sure if the legal team have made an error or if this is correct.  What happens when I lodge the discharge of mortgage form on the property that I still owe money on?  Help required for a legal illiterate.  Thanks

    Profile photo of crjcrj
    Participant
    @crj
    Join Date: 2004
    Post Count: 618
    September 23, 2009 - 11:43 am

    Unless they'bve given you the title deed as well you won't be able to lodge it.  Talk to your mortgagee and get it sorted out.

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    September 25, 2009 - 9:57 am

    They won't discharge unless you pay out the loan.

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

Viewing 3 posts - 1 through 3 (of 3 total)

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