81AMortgage transferee to confirm identity of mortgagor

81A Mortgage transferee to confirm identity of mortgagor (1) This section applies to the transfer of the interest constituted by the mortgage of a lot or an interest in a lot. (2) Before the instrument of transfer is lodged for registration, the transferee under the instrument of transfer (the mortgage transferee) must take reasonable steps to ensure the person who was the mortgagor under the instrument of mortgage was identical to the person who, when the instrument of mortgage was registered, was the registered proprietor of the lot, or the interest in a lot. (3) For subsection (2): (a) a person was the mortgagor under an instrument of mortgage if the person executed the instrument as mortgagor, including, if the instrument is an electronic conveyancing document, through a subscriber digitally signing the instrument under the

Land Title Act 2000 56 Electronic Conveyancing National Law (NT); and (b) a person was the mortgagor under an instrument of mortgage if the instrument is an electronic conveyancing document and the person signed, as mortgagor, a document that under the participation rules under the Electronic Conveyancing National Law (NT): (i) was required as a supporting document for the instrument of mortgage; and (ii) was required to be kept by the original mortgagee mentioned in section 78A(2). (4) A mortgage transferee commits an offence if the mortgage transferee does not comply with subsection (2). (5) An offence against subsection (4) is an offence of strict liability. (6) A mortgage transferee must, for 7 years after the instrument of transfer of the mortgage is registered and whether or not there is registered a further transfer of the interest constituted by the mortgage: (a) keep, in the approved form, a written record of the steps taken under subsection (2); or (b) keep originals or copies of the documents and other evidence provided to or otherwise obtained by the mortgage transferee in complying with subsection (2). (7) A mortgage transferee commits an offence if the mortgage transferee does not comply with subsection (6). Maximum penalty: 50 penalty units. (8) An offence against subsection (7) is an offence of strict liability. (9) It is a defence to a prosecution for an offence against subsection (7) if:

Land Title Act 2000 57 the defendant from complying with subsection (6). Note for subsection (9) (10) The Registrar-General may, whether before or after the registration of the instrument of transfer of the mortgage, and whether or not there has been registered a further transfer of the interest constituted by the mortgage, ask the mortgage transferee: (a) to advise the Registrar-General about the steps taken by the mortgage transferee under subsection (2); and (b) to produce for the Registrar-General's inspection the written record mentioned in subsection (6)(a) or the originals or copies mentioned in subsection (6)(b). (11) A mortgage transferee commits an offence if the mortgage transferee does not comply with a request under subsection (10). Maximum penalty 20 penalty units. (12) An offence against subsection (11) is an offence of strict liability. (13) It is a defence to a prosecution for an offence against subsection (11) if the mortgage transferee has a reasonable excuse. Note for subsection (13)