Mortgage of mortgage or charge

Form W-05SM (PDF 269 KB)

Dealing type

SM (mortgage of mortgage)

MC (mortgage of charge)

Legislation - s71D Water Management Act 2000

(A) Stamp duty -  Required where the mortgage of mortgage/charge was executed before 1/7/2016. Any alteration that increases the principal sum must be marked.

WAL Certificate - Not required.

Note  With registration of a mortgage of a mortgage the rights of the head mortgagee are assigned to the sub-mortgagee. Any WAL dealing affecting the head mortgage must be made by the sub-mortgagee or with the sub-mortgagee's consent.

The mortgage may affect the interest or share of a mortgagee or chargee.

Reference to trusts, or to the capacity of trustees, executors or administrators is not acceptable on a mortgage, except for private water trusts, and will not be shown on the WAL folio.

A mortgage of more than one mortgage or charge involving the same mortgagor (eg. the same lessee) and mortgagee is a multiple instrument. See Fees page.

(F) The number of the WAL affected by the mortgage must be stated.

(G) The tenure type of the WAL must be stated and agree with the tenure type shown on the WAL folio, i.e. Continuing or Supplementary.

(H) The registered number of the mortgage or charge being mortgaged must be stated.

(I) The full name of the mortgagor must be stated and must be identical to the name of the mortgagee or chargee as shown on the WAL folio. The ACN or ARBN of a company etc must be stated.

(J) The full name of the mortgagee must be stated. The ACN or ARBN of a company etc must be stated.

(K) Tenancy must be stated where there is more than one mortgagee. If tenants in common, the shares held must be stated. Reference to tenancy/shares will not be entered on the WAL folio.

(L) The relevant annexure must be specified. The annexure must be identified as such.  Each page must be numbered. The first and last pages and any alterations or additions must be signed by all parties.

(M) The relevant memorandum must be specified.

(N) The postal address or DX for service of DPI Water notices on the mortgagee must be stated. For a change of address. Note  The address is not restricted to NSW.

(O) The appropriate items must be completed and any deletions must be verified.

(P) The mortgage of mortgage or charge must be executed by the mortgagor and be witnessed, or be executed on their behalf by the following:

  • attorney and witnessed, or
  • authorised officer and witnessed.

Note  A solicitor, barrister or licensed conveyancer cannot execute on behalf of the mortgagor.

The mortgage of mortgage or charge must be executed by the mortgagee and be witnessed, or be executed on their behalf by the following:

  • attorney and witnessed,or
  • authorised officer and witnessed, or
  • solicitor or barrister.

Note  A licensed conveyancer cannot execute on behalf of the mortgagee.

See execution requirements for companies, witnesses etc pages. Note  Requirements are the same as for Real Property Act dealings except where otherwise stated.

Note  The address of the witness is not required for a financial institution.

Staff processing information

Refer all dealings to SD31 except for the following

Refer to SD6 - Caveat noted on the WAL Folio - If specifically prohibited, refer to the Senior Examining Officer for service of notice on the caveator.

SD6 - Registration procedure

Mortgage of mortgage or charge

PRIME CODE. code of mortgage or charge as shown on the WAL folio

PRIME NO. number of mortgage or charge

SUB CODE

UMM (mortgage of mortgage)

UCM (mortgage of charge)

CODE (name) P, C or Q [name of mortgagee].