sec.261Advances secured by mortgage package

### sec.261 Advances secured by mortgage package If— at a liability date, 2 or more security instruments secure or partly secure the same amount; and at least 1 of the instruments is a security affecting property wholly or partly outside Queensland; and at least 1 of the instruments is a mortgage; the instruments are a mortgage package . Also, a mortgage package includes— a mortgage signed after the liability date if the commissioner is satisfied the mortgage was intended to be part of the package; and a mortgage previously collateral to an earlier advance under 1 or more of the other mortgages in the package. Mortgage duty must be assessed under this part on the mortgage package as if the instruments comprising the mortgage package were 1 mortgage, first signed on the day the last of the signed instruments was signed. One of the mortgages in the mortgage package must be stamped with the mortgage duty paid in Queensland for the mortgage package and all other mortgages in the mortgage package must be stamped as a collateral mortgage. (sec.261-ssec.1) If— at a liability date, 2 or more security instruments secure or partly secure the same amount; and at least 1 of the instruments is a security affecting property wholly or partly outside Queensland; and at least 1 of the instruments is a mortgage; the instruments are a mortgage package . (sec.261-ssec.2) Also, a mortgage package includes— a mortgage signed after the liability date if the commissioner is satisfied the mortgage was intended to be part of the package; and a mortgage previously collateral to an earlier advance under 1 or more of the other mortgages in the package. (sec.261-ssec.3) Mortgage duty must be assessed under this part on the mortgage package as if the instruments comprising the mortgage package were 1 mortgage, first signed on the day the last of the signed instruments was signed. (sec.261-ssec.4) One of the mortgages in the mortgage package must be stamped with the mortgage duty paid in Queensland for the mortgage package and all other mortgages in the mortgage package must be stamped as a collateral mortgage. - (a) at a liability date, 2 or more security instruments secure or partly secure the same amount; and - (b) at least 1 of the instruments is a security affecting property wholly or partly outside Queensland; and - (c) at least 1 of the instruments is a mortgage; - (a) a mortgage signed after the liability date if the commissioner is satisfied the mortgage was intended to be part of the package; and - (b) a mortgage previously collateral to an earlier advance under 1 or more of the other mortgages in the package.