HOW TO REMOVE OR RELEASE A MORTGAGE FROM CERTIFICATE OF LAND TITLE IN UGANDA

HOW TO REMOVE OR RELEASE A MORTGAGE FROM CERTIFICATE OF LAND TITLE IN UGANDA

GOVERNING LAWS IN UGANDA include

• RTA,
• LAND ACT AS AMENDED,
• MORTGAGE ACT 2009 and the regulations there under among others
• As per Mortgage Act 2009,

A Mortgage includes any charge or lien over land or any estate or interest in land in Uganda for securing the payment of an existing or future or a contingent debt or other money or money’s worth or the performance of an obligation and includes a second or subsequent mortgage, a third party mortgage and a sub mortgage;

A Mortgagee means a person in whose favour a mortgage is created or subsists and includes any person deriving title under the original mortgagee (A person who gives money (finances)in respect to the security given).

A Mortgagor” means a person who has mortgaged land or an interest in land and includes any person from time to time deriving title under the original mortgagor or entitled to redeem the mortgage according to his or her estate, interest or right in the mortgaged property( a borrower ) .

The following are steps which one may take to remove Mortgage from a land title in uganda

• Mortgagee prepares a release/removal letter indicating that his interests in the mortgaged property have been fully satisfied and therefore the mortgage should be vacated from the land title.
• Take the release letter for assessment of stump duty at DTB OR ANY BANK designated by URA to conduct such on its behalf.
• Pay the stamp duty as advised and have your release of mortgage letter embossed by URA agents at the bank.
• Submit the release letter to cashier’s office at office of registrar of titles for assessment of ministry removal/release fee.
• Pick the assessed bank slips and pay accordingly as advised.
• Make photocopies of the all the documents.
• Submit the release letter together with Duplicate certificate of title, the receipts of payment fees and photocopies of the same to office of registrar of titles.
• The photocopies are stamped ‘Received’ and returned to you, you should be told when to check,
• The file at land registry (white page/original certificate of title) is requested for and retrieved from strong room.
• The release letter /request is reviewed and approved by registrar who issues instrument number to remove the mortgage from the title by crossing /cancelling.
• The registrar authorizes the removal of the mortgage and forwards it for typing.
• The removal/release of the mortgage on the title is scanned in the computer system and forwarded to the registrar for signature.
• The registrar signs on the both the duplicate certificate of title and the white page/register’s copy and forwards the file for scanning out.
• Check on the day you were told to confirm the removal/release of the mortgage from the Register.

approximate cost:government fees about ugx 40,000 ,professional fees  ugx 500,000 and above depending on where land is.

Author is A regional transactions legal consultant (ADVOCATE) at NOA REGIONAL ASSOCIATED ADVOCATES AND LEGAL CONSULTANTS
Email address: onlinetransactionconsultancy@gmail.com.

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NOTE: whereas the author has made necessary efforts to ensure the accuracy of this post, it is not intended to provide specific legal advice to a particular individual as individual situations may differ.

For specific technical / legal transaction advice on this subject matter and related subject, you may contact the author at online consultancy fee, or contact any transaction legal consultant of your choice.
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