53Transfers arising from mortgages of land

53 Transfers arising from mortgages of land (1) The mortgagor and the mortgagee are jointly and severally liable to pay the duty payable on a transfer by way of mortgage of dutiable property that is territory land. (2) If the commissioner is satisfied that— (a) duty has been paid in accordance with this section on a transfer of dutiable property to which this section applies; and (b) the dutiable property has been re-transferred to the mortgagor (or a person to whom the land has been transmitted by death or bankruptcy) and the mortgagor (or person) is the registered proprietor of the land; the commissioner must refund the ad valorem duty paid on the