ELIMINATION OF MORTGAGE ELECTRONICALLY

The Transfer and Mortgage of Immovable Property (Amendment) Law 10 (I) of 2023 amends the Transfer and Mortgaging Law (No. 4) of 2022 (basic law), in particular article 35 (elimination of mortgage).

The mortgagor may, through the online portal of the Department of Lands and Surveys, eliminate mortgage electronically presenting Form E reserving the right to the existing provided by the above-mentioned law option, resulting in any obligation relating to the security provided by a mortgage is repaid or ceases to exist in accordance with the Article 35.