New South Wales Consolidated Acts

DUTIES ACT 1997 - SECT 227

227 Unregistered mortgages protected by caveats (anti-avoidance provision)

(1) A caveat under the Real Property Act 1900 in which an estate or interest is claimed under an unregistered mortgage is chargeable with duty.

(2) The amount of duty is:

(a) if the mortgage is chargeable, but not stamped, with mortgage duty-the same amount as is chargeable on the mortgage, or

(b) if the mortgage is stamped, or is not chargeable, with mortgage duty-$50.

(3) The person liable to pay the duty is the mortgagor.

(4) This section does not apply to a caveat lodged in respect of a mortgage that is exempt from mortgage duty under Part 4.