Hi Everyone,
Just wondering if anyone knows how to lodge a mortgage on a certificate of title? I'm looking at loaning someone money to buy a property and although we have a loan agreement in place i want to be able to force the sale of the property only if the other party defaults. If i lodge a Caveat doesn't that mean i'll only get my money back if/when they sell the property cause then i would have to lift it in order for them to settle? If i lodge a mortgage won't i be able to sell the property to repay the debt like a bank would?
Does anyone know how to go about it or can only banks do it?
Thanks
You should be using a solicitor.
But you can do it, just go to the land titles office
http://www.lpma.nsw.gov.au/land_titles/dealing_forms/manual_dealing_formsTerryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Thanks Terryw, but i'm in WA and i've been looking at Landgate who does our CT stuff and can't find anything………so it's possible for an individual to lodge a mortgage?
yes, its possible.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
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