Victorian Numbered Acts Victorian Numbered Acts(1) For section 84(1) of the Transfer of Land Act 1958 substitute —
"(1) Upon submission of an instrument in an appropriate approved form signed by the mortgagee or annuitant discharging the land or part thereof from the whole or part of the moneys or annuity secured, the Registrar must remove the recording of the mortgage, charge or annuity from the relevant folio of the Register and that land or portion of land ceases to be subject to the mortgage, charge or annuity.".
(2) For section 84(2)(a) of the Transfer of Land Act 1958 substitute —
"(a) either—
(i) all principal and interest due in respect of the mortgage have been paid to the person entitled to receive them; or
(ii) section 20 of the Limitation of Actions Act 1958 applies; and".
(3) For section 84(2)(b) of the Transfer of Land Act 1958 substitute —
"(b) a discharge of mortgage instrument cannot be obtained because the mortgagee is—
(i) a natural person who is deceased and has no legal personal representative who can act on the deceased's behalf, or whose signature cannot for any reason be obtained within a reasonable time; or
(ii) a body corporate and the authorised agent of the body corporate cannot be located or the agent's signature cannot be obtained within a reasonable time.".
(4) In section 84(3) of the Transfer of Land Act 1958 , for "shall make a recording in any relevant part of the Register that such annuity is satisfied, and thereupon the land shall cease to be subject to or charged with such annuity" substitute "must remove the recording of the annuity from the relevant folio of the Register and that land or portion of land ceases to be subject to the annuity".
(5) Section 84(4) and (5) of the Transfer of Land Act 1958 are repealed .