Western Australian Current Acts Western Australian Current Acts (1) Where an equity of
redemption is vested in a trustee and the mortgaged property is not of greater
value than the amount of the mortgage debt, the trustee may release the equity
of redemption to the mortgagee in discharge of the mortgage debt or part
thereof; and the trustee shall not be chargeable with breach of trust nor
shall the release be impeached by any beneficiary upon the ground only that
the mortgaged property was of greater value than the amount of the mortgage
debt or the part thereof discharged, if the trustee has acted bona fide and on
the advice of a person whom he reasonably believed to be a competent valuer
instructed and employed independently of the mortgagee, whether the valuer
carried on business in the locality where the property is situate or
elsewhere.
(2) A subsequent
purchaser or the Registrar of Titles or other person registering or certifying
title shall not be concerned to inquire whether a release was authorised by
this section.