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Has a bank the responsibility to delete a registered

Customer Question
Has a bank the...

Has a bank the responsibility to delete a registered mortgage from title if no further money's are owing to the bank

Lawyer's Assistant: Because real estate law varies from place to place, can you tell me what state this is in?

New south wales

Lawyer's Assistant: Has anything been filed or reported?

No

Submitted: 4 months ago.Category: Australia Law
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Answered in 5 minutes by:
3/8/2018
Solicitor: John Melis, Lawyer replied 4 months ago
John Melis
John Melis, Lawyer
Category: Australia Law
Satisfied Customers: 3,335
Experience: Principal Lawyer at Legal AU Pty Ltd
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Hi, my name is***** solicitor in Melbourne. Thank you for using Just Answer, and I will answer your question today, and ask various questions to narrow the issues in your post raised.

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Solicitor: John Melis, Lawyer replied 4 months ago

the bank will hold the title until the registered owner request a discharge of the mortgage.

even where there is no money owing on the property the lenders name will remain on title until discharge.

this is a normal practice and in away is an added layer of security for the registered property owner.

You can come back to this post any time to ask questions and there will be no further charges to you.

Don't for get to rate me for 5 stars and thank you for using Just Answer.

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