92Land—how mortgaged or encumbered

92 Land—how mortgaged or encumbered (1) Whenever any land or interest in land under this Act is intended to be charged or made security in favour of any mortgagee, the mortgagor may execute a memorandum of mortgage. (2) Whenever any such land or interest is intended to be charged with or made security for the payment of an annuity, rent charge or sum of money in favour of any encumbrancee, the encumbrancer may execute a memorandum of encumbrance. (3) Every such instrument shall contain an accurate statement of the interest intended to be mortgaged or encumbered, and shall for description of the land intended to be dealt with refer to the folio identifier for the land together with a statement of all mortgages and other encumbrances (if any) affecting the land. (4) A memorandum of mortgage or a memorandum of encumbrance, may incorporate by reference, with or without amendment, any or all of the provisions contained a memorandum of provisions.

(5) Where a memorandum of mortgage, or a memorandum of encumbrance— (a) incorporates by reference provisions contained in a memorandum of provisions; or (b) incorporates by reference, with amendment, provisions contained in a memorandum of provisions; those provisions, or those provisions as amended, as the case may be, shall be deemed to be set out at length in the memorandum of mortgage or encumbrance, as the case requires.