T Tone 23rd Mar, 2014 #1 Hello. Quick question guys. Does a mortgage that is registered on a property title need to be discharged before title ownership is able to be changed or amended. would it delay the title transfer or simply won't be allowed? Thank you
Hello. Quick question guys. Does a mortgage that is registered on a property title need to be discharged before title ownership is able to be changed or amended. would it delay the title transfer or simply won't be allowed? Thank you
Terry_w 23rd Mar, 2014 #2 Tone said: Hello. Quick question guys. Does a mortgage that is registered on a property title need to be discharged before title ownership is able to be changed or amended. would it delay the title transfer or simply won't be allowed? Thank you Click to expand... Yes and yes. Change of ownership means new loan and new servicing calculations - not to mention stamp duty, CGT and other consequences.
Tone said: Hello. Quick question guys. Does a mortgage that is registered on a property title need to be discharged before title ownership is able to be changed or amended. would it delay the title transfer or simply won't be allowed? Thank you Click to expand... Yes and yes. Change of ownership means new loan and new servicing calculations - not to mention stamp duty, CGT and other consequences.
