Release (Form 3)

Section 81 of the Land Title Act 1994 (Qld) lets the Registrar register a release of mortgage to the extent shown in the instrument. The release may cover all or part of the mortgage, or one or more of the mortgagors, and on registration the mortgage is discharged and the lot released to that extent. The Land Act 1994 (s 342) and Water Act 2000 apply the same approach to State land and water allocations. Form 3 (version 4) is the approved form, and Part 3 of the Land Title Practice Manual (LTPM) explains the practice.

When you need it

• A loan secured by a registered mortgage has been repaid, or the property is being sold or refinanced and the lender is discharging its mortgage.
• Only some lots are being released from a mortgage over several lots (a partial release).
• Only some mortgagors are being released. This works for mortgagors holding as tenants in common; joint tenant mortgagors cannot be released separately unless the joint tenancy is first severed (LTPM [3-0040]).
• The mortgagee is absent, deceased or defunct: the Public Trustee (s 61 Public Trustee Act 1978) or ASIC (s 601AF Corporations Act 2001) may be able to sign the release.

1. 1

   Partial release box and lodger panel

   Mark the box with an X if this is a partial release. Complete the lodger's name, address, email and phone.

2. 2

   Item 1: mortgage

   Insert the dealing number of the mortgage being released, exactly as recorded on the title.

3. 3

   Item 2: land

   Insert the lot on plan description with its plan prefix and the title reference, for example 'Lot 27 on RP 204939'.

4. 4

   Item 3: mortgagor

   Complete this only if the debt is not being released for all mortgagors, for example 'Interest of [names] only'. Otherwise leave it blank.

5. 5

   Item 4: mortgagee

   Insert the mortgagee's full name. If the mortgage was transferred, use the transferee's name. If the mortgagee changed its name, show the current and former names and deposit or refer to the evidence (LTPM [3-2000]).

6. 6

   Item 5: execution

   Every mortgagee signs and dates, each with a separate witnessing panel completed by a witness qualified under Schedule 1 of the Land Title Act. One of several mortgagees cannot release only its own interest (LTPM [3-0030]). If a joint mortgagee has died, a Form 4 must be lodged first; if the sole mortgagee has died, a transmission application must come first.

• Form 3 is a mandated instrument. Industry professionals and corporate entities must lodge it through an Electronic Lodgment Network where it is within scope (a fee simple lot, all lots and all mortgagors released), unless an exemption applies and an Exemption Request Form is used.
• Otherwise lodge on paper by post with payment to Titles Queensland, GPO Box 1401, Brisbane Qld 4001. Form 3 is not one of the dealings the Titles Electronic Drop Box (TED) accepts.
• A lodgement fee applies; check the Titles Queensland fee calculator. The standard service timeframe for a correctly lodged titling instrument is five business days.

• The Registrar does not check that a 'full' release covers every lot under the mortgage. If any lot is missed, a further release is needed (LTPM [3-0010]).
• Do not release a collateral mortgage before the principal mortgage unless the mortgagee holds other security over the whole lot (LTPM [3-2010]).
• Titles Queensland publishes a Form 3 preparation checklist on the forms page; work through it before lodging to avoid a requisition.