Q&As

A council lent a sum of money to a borrower in 1978 and secured it by way of a mortgage by demise. The sum has been repaid and there is a vacating receipt with the deeds. Is a formal surrender or any document required to effect surrender and will this trigger first registration at HM Land Registry?

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Produced in partnership with Chris Bryden of 4 King’s Bench Walk
Published on LexisPSL on 13/09/2017

The following Property Q&A Produced in partnership with Chris Bryden of 4 King’s Bench Walk provides comprehensive and up to date legal information covering:

  • A council lent a sum of money to a borrower in 1978 and secured it by way of a mortgage by demise. The sum has been repaid and there is a vacating receipt with the deeds. Is a formal surrender or any document required to effect surrender and will this trigger first registration at HM Land Registry?

A mortgage by demise is an unusual form of mortgage which provides for the demise of property to a lender from a borrower in order to secure a loan of money. The structure of a mortgage by demise is akin to a lease, but for an extremely long period of time (normally 3000 years). The mortgage will include provision for its redemption. Ordinarily, upon payment of the principal sum and interest the mortgage will determine. However, in order to terminate the term of the lease demised, the premises must then be assigned to a trustee for the owner o

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