106 Discharge of mortgage or encumbrance
encumbrance wholly or in part, or the land comprised in it wholly
RSA 2000
or in part, according to the tenor of the discharge, and shall make
an entry of the discharge on the certificate of title affected by the
discharge, in any of the following cases:
(a) on the production to the Reg istrar of a discharge in the
prescribed form signed by the mortgagee or encumbrancee
and accompanied with the proper affidavit of execution, but
(i) when it is expressly stated in a mortgage or
encumbrance to 2 or more mortgagees or encumbrancees
that the money has been advanced on a joint account, it
is sufficient if the discharge of the mortgage or
encumbrance is signed by any one of the mortgagees or
encumbrancees, or
(ii) when it is expressly stated in a mortgage or
encumbrance that the mortgage or encumbrance is held
in joint tenancy by 2 or more mortgagees or
encumbrancees, it is sufficient, on the death of a joint
tenant, if the discharge of the mortgage or encumbrance
is signed by the surviving mortgagees or
encumbrancees;
(b) on the production of a certificate signed by a judge
certifying that the judge is satisfied of the payment of all or
part of the money secured by the mortgage or encumbrance,
and that the mortgagee or encumbrancee is living, or if dead,
that no succession duty or other tax is payable to the Crown
in right of Alberta with respect to the mortgage or
encumbrance;
(c) on the production of a certificate signed by a judge
certifying that the right of any person to recover any money
secured by the mortgage or encumbrance has been
extinguished by reason of the operation of the Limitation of
Actions Act, RSA 1980 cL-15, or is unenforceable pursuant
to an immunity from liability established under the
Limitations Act.
(2) On the entry being made on the certificate of title, the land or
the estate, or interest in the land, or the portion of the land
mentioned or referred to in the endorsement as provided in this
Act, ceases to be subject to or liable for the principal sum or
annuity, or, as the case may be, for the part of it mentioned in the
entry as discharged.
RSA 2000 cL-4 s106;2007 c22 s2
RSA 2000