New South Wales Consolidated Acts
[Search this Act]
DUTIES ACT 1997 - SECT 205
What is a mortgage?
(1) For the purposes of this Chapter, an instrument is a
"mortgage" if it is--
(a) a security by way of mortgage or charge over
property wholly or partly in New South Wales at the liability date, or
security by way of a transfer or conveyance of any property in New South Wales
that is held in trust to be sold or otherwise converted into money, redeemable
before such a sale or conversion either by express stipulation or otherwise,
except where the transfer or conveyance is made for the benefit of creditors
who accept the transfer or conveyance in full satisfaction of debts owed to
(d) an instrument that, on the deposit of documents of title to
property in New South Wales or instruments creating a charge on property in
New South Wales, becomes a mortgage or evidences the terms of a mortgage.
Clause 22A of Schedule 1 to the Personal Property Securities (Commonwealth
Powers) Act 2009 does not apply, and is taken to have never applied, in
respect of this Chapter.
Note : Certain instruments that would otherwise be
caught by this definition are exempted under Part 4.
AustLII: Copyright Policy