Tasmanian Numbered Acts Tasmanian Numbered Acts139. What is a mortgage?
For the purposes of this Chapter, an instrument is a mortgage if it is –
(a) a security by way of mortgage or charge over property wholly or partly in Tasmania at the liability date; or
(b) a security by way of a transfer of any property wholly or partly in Tasmania held in trust to be sold or otherwise converted into money and redeemable before the sale or conversion, except if the transfer is for the benefit of creditors who accept it in full satisfaction of debts owed to them; or
(c) any transfer, assignment or disposition of any estate or interest in property wholly or partly in Tasmania that is apparently absolute but intended only as a security; or
(d) an instrument that, on the deposit of documents of title, authority to control title or a pledge to provide that control, to property wholly or partly in Tasmania becomes a mortgage or evidences the terms of a mortgage.