102 Mortgages and Encumbrances Mortgages and encumbrances
is intended
(a) to be charged or made security in favour of a mortgagee, t he
mortgagor shall execute a mortgage in the prescribed form,
or to the like effect, or
(b) to be charged with or made security for the payment of an
annuity, rent charge or sum of money in favour of any
encumbrancee, the encumbrancer shall execute an
encumbrance in the prescribed form, or to the like effect.
(2) A mortgage or encumbrance shall
(a) contain an accurate statem ent of the estate or interest
intended to be mortgaged or encumbered, and
(b) give a description of the land intended to be dealt with t hat
is sufficient to identify the land,
and a memorandum of the mortgage or encumbrance shall be made
on the certificate of title.
(3) A mortgage or encumbrance providing for the delivery to the
mortgagee or encumbrancee of grain is registerable in the same
RSA 2000
manner as any other mortgage or encumbrance if there is set out in
it the amount of grain of any specified description and grade as
being the amount of grain deliverable pursuant to it, and all the
provisions of this Act relating to other mortgages or encumbrances
apply, with all necessary modifications, to any mortgage or
encumbrance to which this subsection relates.
RSA 1980 cL-5 s105;1988 c27 s39