
Short title and commencement 3. Application of other laws etc. Registrar of Titles 6. Land granted by Crown to be subject to this Act 9. A) The reference to title for the land affected by the mortgage must be stated. Section 76(1) provides that the mortgagee may in the event of default to serve a “notice in writing to pay the money owing or to perform and observe the covenants (as the case may be)”. The power of sale arises in a mortgage , which shows no contrary intention and is created by deed and already passed the legal date of redemption, when the mortgage money has become due but it is not exercisable until one of the following conditions is fulfilled. See full list on gov.
The transfer operates to release the land from the charge. A separate discharge for the charge is therefore not required. It is aimed at lenders and. Regulation of exercise of power of sale 104. Conveyance on sale 105.
Provisions as to exercise of power of sale 107. A sale deed must be carried out for transferring property titles, following which the buyer has to pay stamp duty and registration charges. The seller will also have to bear the burden of capital gains tax on the transaction. REGISTERED LAND ACT CHAPTER 194.

Chargee’s consent to transfer. Variation of charges. Legislation: Land Titles Act.