Australian Capital Territory Current Acts Australian Capital Territory Current Acts(1) A registered mortgage may be varied by registration of a memorandum of variation of mortgage.
Note 1 A fee may be determined under s 139 (Determination of fees, charges and other amounts) for lodgment of a memorandum of variation of mortgage.
Note 2 If a form is approved under s 140 (Approved forms) for a memorandum, the form must be used.
(2) The memorandum shall be signed in the presence of a witness by each of the parties to the mortgage.
Note The execution of an instrument lodged for registration by a legal practitioner or mortgagee corporation is not required to be witnessed because certification for the instrument is given (see s 48BD and E-Conveyancing Law, s 11).
(3) Upon production of a memorandum referred to in subsection (2), the registrar-general shall make such entries in the register as are necessary.
(4) The memorandum shall, when registered under this Act, operate so as to vary the mortgage in the manner specified in the memorandum.
(5) This section applies to a mortgage made before or after the commencement of this section.