Where the mortgage is granted by an institutional lender, either the lender's standard form of mortgage must be used or the lender's instructions as to the form and contents of the mortgage must be followed1. A legal mortgage must be made by deed2. In the case of registered land, the mortgage deed must identify the registered land which is to be charged, by its title number or by reference to a suitable plan. A legal charge of a
The mortgage deed will be prepared simultaneously with the purchase deed and will be executed by the borrower prior to completion. The borrower is required to execute the deed in the presence of a witness, but in the case of a legal mortgage the lender does not usually sign the deed. If the mortgage is equitable it will generally be a contract for a disposition of an interest in land within the
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