How to register real property security at state-based land titles office

In most cases, a legal mortgage will have priority over an equitable mortgage, even if the equitable mortgage is prior in time, provided the legal interest was taken in good faith, for value and without notice. This is a key reason why project lenders will prefer a legal mortgage over an equitable mortgage.

A legal mortgage is a mortgage that complies with all of the requirements imposed by common law and by statute for the creation of a mortgage. Importantly, under the Torrens system, a mortgage is not only required to be in writing and signed by the mortgagor, but it is also required to be registered. This guidance note explains what is the National Mortgage Form and the role of PEXA, and provides State and Territory specific guidance relating to how to register a mortgage over land in Australia.

See How to register real property security at state-based land titles office.