Mortgage Deed Execution Steps

Summary

Middle Bank plc must execute a mortgage deed under Section 85 of the Law of Property Act 1925 to secure a legal charge over Green Gables. Annie and Ben must sign the deed, and it should be registered at HM Land Registry. This process ensures the loan conditions and property security are legally documented.

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A couple, Annie and Ben, are the registered proprietors of Green Gables, the freehold title to which they bought for £*,*. The intention was that they would live in the property with Ben’s parents, Cath and Dai. Cath and Dai each contributed £*,* to the purchase price. Annie and Ben made individual contributions of £*,* each to the purchase price. The remaining £*,* was provided by way of a loan taken by Annie and Ben from Middle Bank plc. The loan is secured on Green Gables by way of a mortgage. Cath and Dai live in Green Gables along with Annie and Ben. Identifying relevant statutory provisions, explain the steps necessary for Middle Bank plc to obtain a legal charge over Green Gables.
Middle Bank plc must follow these steps to obtain a legal charge over Green Gables:
- Execute a mortgage deed under Section * of the Law of Property Act *.
- Ensure the deed is signed by Annie and Ben.
- Register the mortgage at HM Land Registry to secure the charge.
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