Law of Property Act 1925

Sections 114 and 115.

THIRD SCHEDULE E+W Forms of Transfer and Discharge of Mortgages

Form No. I

Form of Transfer of Mortgage

This Transfer of Mortgage made the day of 19 , between M. of [&c.] of the one part and T. of [&c.] of the other part, supplemental to a Mortgage dated [&c.], and made between [&c.], and to a Further Charge dated [&c.], and made between [&c.] affecting &c. (here state short particulars of the mortgaged property).

Witnesseth that in consideration of the sums of £ and £ (for interest) now paid by T. to M., being the respective amounts of the mortgage money and interest owing in respect of the said mortgage and further charge (the receipt of which sums M. hereby acknowledges) M., as mortgagee, hereby conveys and transfers toT. the benefit of the said mortgage and further charge.

In witness, &c.

Form No. 2

Form of Receipt on Discharge of a Mortgage

I, A.B., of [&c.] hereby acknowledge that I have this day of 19 , received the sum of £ representing the [aggregate] [balance remaining owing in respect of the] principal money secured by the within [above] written [annexed] mortgage [and by a further charge dated, &c., or otherwise as required] together with all interest and costs, the payment having been made by C.D. of [&c.] and E.F. of [&c.].

As witness, &c.

Note.—If the persons paying are not entitled to the equity of redemption state that they are paying the money out of a fund applicable to the discharge of the mortgage.