Of land to lender on the basis that it will be

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Unformatted text preview: lds subject to interests recorded in register but free from all others No state guarantee State guarantees that the person registered as owner is owner Title passes on delivery of deed of conveyance Title passes on registration of the notice of transfer Caveat system does not apply Caveat system enables a person to record their interest in the land Mortgage involves a transfer of land to lender on the basis that it will be transferred back when loan is repaid Mortgage is by registration not by the transfer of the land FIGURE 33.6 Certificate of Title BUSINESS ORGANISATIONS AND THE LAW PART 6 864 registration. Where the registered proprietor has mortgaged the land, it is usual for the registered proprietor’s Certificate of Title to be given to the mortgagee until the loan is repaid. This makes it very difficult for the registered proprietor to deal with the property in a manner that may be to the mortgagee’s detriment, since the registered proprietor would usually be called upon to produce the duplicate Certificate of Title to confirm their right...
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This document was uploaded on 04/23/2012.

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