In New South Wales, there are a number of dealings under the Real Property Act which are statutory forms that can be obtained for free from the New South Wales land and property information management authority. You can also download copies of the forms for free here. We provide some of the mortgage documentation available for you to download.
What is a Mortage?
A mortgage is a security interest in real property held by a lender as a security for a debt, usually a loan of money. While a mortgage in itself is not a debt, it is the lender’s security for a debt. It is a transfer of an interest in land (or the equivalent) from the owner to the mortgage lender, on the condition that this interest will be returned to the owner when the terms of the mortgage have been satisfied or performed. In other words, the mortgage is a security for the loan that the lender makes to the borrower. The word is a Law French term meaning “dead pledge,” apparently meaning that the pledge ends (dies) either when the obligation is fulfilled or the property is taken through foreclosure.
Most of the time, a mortgage is the form of security which is demanded by a bank in exchange for a loan. A mortgage is formalized under the law of New South Wales through the Real Property Act 1900 (NSW) which contains the regulations regarding the registration of mortgages and dealing in mortgages. In particular, the the act sets out the mechanism by which a loan default and repossession matter is taken forward by way of the issuing of a s.57(2)(b) notice which notifies a debtor that a lender intends to repossess the security which was taken for the loan.
Mortgage Forms for New South Wales
Instructions for Completion (PDF 118 KB)
Schedule to Mortgage (PDF 11 KB)
Mortgage Form 2 (PDF 80 KB)
If you have any questions about mortgages, we shall naturally be more than happy to help you. Simply fill in the question box provided to the right and a Lawyer will assist you in a few minutes. You can also obtain these forms from the New South Wales land and property information management authority website.
