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Registering a mortgage
Required Documents:
- Mortgage (to secure Account Current) form SR16 in duplicate or Mortgage (to secure Principal Sum and Interest) form SR17 in duplicate;
- Fee of $128.
Mortgages are registered in the order in which they are received by the Registrar. The approximate processing time is five working days from receipt of the correctly completed documents and payment of the fee.
Discharging a Mortgage
Required Documents:
- Original registered mortgage (that is, the one endorsed by the Registrar as to its registration) with the discharge of mortgage section completed in full and executed by the mortgagee.
- Fee of $98.
If the discharge is executed by an attorney for the mortgagee, a certified copy of the power of attorney and a certificate of non-revocation of power of attorney must also be supplied.
Procedure to discharge a mortgage where the original mortgage is lost
Required Documents:
- Statutory declaration of loss made by the mortgagee giving full details of the circumstances of the loss of the original mortgage.
- Fee of $98.
Notes about a declaration of loss of mortgage
There is no specific format for the declaration of loss except that it must comply with the requirements of the Oaths and Declarations Act 1957.
If the mortgagee is a company, the person making the declaration must state his or her position within the company and that he or she is authorised to make the declaration on behalf of the company.
The declaration must include
- sufficient information to properly identify the ship and the mortgage;
- details of the circumstances of the loss of the original mortgage;
- confirmation that all monies owing under the mortgage have been repaid.
A separate form of discharge of mortgage is not required.
A suggested heading for the declaration of loss is as follows:
IN THE MATTER OF
the Ship Registration Act 1992
AND
IN THE MATTER OF Mortgage
"........." [assigned mortgage letter]
dated ..........and registered on ..........
against the ship "........." [ship's name]
having the official number ...........
BETWEEN ......... as mortgagor
AND .......... as mortgagee
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Variation of priority of a mortgage
Required Documents:
- Variation of Priority of Mortgages form SR18 in duplicate;
- Fee of $107
Transactions are registered in the order in which they are received by the Registrar. The approximate processing time is five working days from receipt of the correctly completed documents and payment of the fee.
Other forms of transmission by operation of law. For details of other forms of transmission by operation of law, eg to the Crown, Public Trustee or by Court Order, contact the Registrar (link to contact).
Alteration of terms of a mortgage
Required Documents:
- Alteration of Terms of Mortgage by Endorsement form SR19 in duplicate;
- Fee of $107
Transactions are registered in the order in which they are received by the Registrar. The approximate processing time is five working days from receipt of the correctly completed documents and payment of the fee.
Registering the death of a joint mortgagee
Where a joint mortgagee of a registered mortgage dies, ownership passes to the remaining joint mortgagee/s by operation of law. The transmission must be registered before the surviving joint mortgagee/s can deal with the mortgage, eg. transfer or discharge it.
Required Documents:
- Declaration of Transmission form SR13 completed by the surviving joint mortgagee/s;
- Declaration of Identity form SR29 made by a person well acquainted with the deceased, who must not be the joint mortgagee/s to whom the mortgage is to be transmitted;
- Certified copy death certificate;
- Fee of $146.
Transactions are registered in the order in which they are received by the Registrar. The approximate processing time is five working days from receipt of the correctly completed documents and payment of the fee.
Registering the death of a sole mortgagee
Where the sole mortgagee of a registered mortgage dies, ownership passes by
transmission to the legal personal representative/s of the deceased, ie. to the
trustees of the deceased's estate. The transmission must be registered before
the legal personal representatives/ can deal with the mortgage, eg. transfer or
discharge it.
Required Documents:
- Declaration of Transmission form SR13 made by the legal personal representative/s to whom the mortgage is to be transmitted;
- Certified copy probate or letters of administration;
- Fee of $146.
Transactions are registered in the order in which they are received by the Registrar. The approximate processing time is five working days from receipt of the correctly completed documents and payment of the fee.
Other forms of transmission by operation of law. For details of other forms of transmission by operation of law, eg to the Crown, Public Trustee or by Court Order, contact the Registrar.
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