Mortgages and discharges of mortgage
When you buy a property you get a Certificate of Title, which is a paper copy of an entry in the online register.
If you have a mortgage, the bank holds the Certificate of Title until your loan is repaid.
When there is no longer a debt over the property, you will need to register a discharge of mortgage at Land Use Victoria. The online register will be updated and you will receive a new Certificate of Title.
Free forms and guides to a mortgage or discharge a mortgage on a property, and the fees associated with these trasnactions are available online.
Mortgages and discharges of mortgage can also be lodged and withdrawn online through PEXA (Property Exchange Australia Ltd). To lodge a mortgage or discharge of mortgage online you will need to engage a lawyer or licensed conveyancer who is a PEXA subscriber.
Visit the PEXA website to find a lawyer or conveyancer who is a subscriber.