No. V.
An Act to facilitate the discharge of Mort gages. [ 1 3 ^ August, 1880.]

W

H E R E A S it is e x p e d i e n t to a m e n d t h e " T r u s t e e A c t 1 8 5 2 " so far as r e g a r d s t h e facilitating t h e e x t i n g u i s h m e n t of M o r t g a g e s B e i t therefore e n a c t e d b y t h e Q u e e n ' s M o s t E x c e l l e n t M a j e s t y b y a n d w i t h t h e advice a n d c o n s e n t of t h e Legislative C o u n c i l a n d L e g i s l a t i v e A s s e m b l y of N e w S o u t h W a l e s i n P a r l i a m e n t assembled a n d b y t h e a u t h o r i t y of t h e same as follows :-- 1. Section fiftv-two of t h e " T r u s t e e A c t 1 8 5 2 " is h e r e b y repealed b u t w i t h o u t p r e j u d i c e to t h e past operation of t h e said section. 2. W h e n e v e r t h e person entitled to recover or receive p a y m e n t of m o n e y secured b y m o r t g a g e u p o n real or personal p r o p e r t y or a n y i n t e r e s t t h e r e i n ( w h e t h e r s u c h person shall be t h e original m o r t g a g e e or some person c l a i m i n g t h r o u g h h i m ) shall personally or b y a t t o r n e y sign

sign a r e c e i p t endorsed u p o n t h e m o r t g a g e for t h e m o r t g a g e d e b t or for a n y s u m of m o n e y in satisfaction thereof or a n a c k n o w l e d g m e n t so endorsed t h a t s u c h m o r t g a g e lias been satisfied t h e m o r t g a g e d p r o p e r t y shall u p o n t h e r e g i s t r a t i o n of s u c h receipt or a c k n o w l e d g  m e n t i n m a n n e r provided b y law for t h e registration of o t h e r i n s t r u  m e n t s affecting l a n d b u t as from t h e date of s u c h r e c e i p t or a c k n o w l e d g  m e n t be t h e r e b y d i s c h a r g e d from s u c h m o r t g a g e a n d from all powers t h e r e b y g r a n t e d a n d from all p r i n c i p a l i n t e r e s t a n d o t h e r m o n e y s t h e r e b y secured b u t shall b e a n d r e m a i n subject t o a l l uses t r u s t s estates a n d interests declared created or occasioned b y deed or will or b y d e v o l u t i o n or operation of l a w in respect of s u c h p r o p e r t y previously to t h e d a t e of s u c h r e c e i p t or a c k n o w l e d g m e n t .