sec.258What is the amount secured by a mortgage

### sec.258 What is the amount secured by a mortgage The amount secured by a mortgage is the amount of advances actually secured by it and recoverable under it. However, if— a mortgage has been properly stamped, or is exempt from duty, under this or a corresponding Act for an amount of advances secured by the mortgage; and a further advance secured by the mortgage is made; and the total amount secured by the mortgage exceeds the amount for which the mortgage has been properly stamped; the amount secured by the mortgage is, for section 247 (2) , the excess amount mentioned in paragraph (c) . (sec.258-ssec.1) The amount secured by a mortgage is the amount of advances actually secured by it and recoverable under it. (sec.258-ssec.2) However, if— a mortgage has been properly stamped, or is exempt from duty, under this or a corresponding Act for an amount of advances secured by the mortgage; and a further advance secured by the mortgage is made; and the total amount secured by the mortgage exceeds the amount for which the mortgage has been properly stamped; the amount secured by the mortgage is, for section 247 (2) , the excess amount mentioned in paragraph (c) . - (a) a mortgage has been properly stamped, or is exempt from duty, under this or a corresponding Act for an amount of advances secured by the mortgage; and - (b) a further advance secured by the mortgage is made; and - (c) the total amount secured by the mortgage exceeds the amount for which the mortgage has been properly stamped;