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Fisheries Act 1996

Registration of transfers, mortgages, caveats, etc - Mortgages of quota

138A: Assignment of mortgages

You could also call this:

"Transferring mortgage rights to someone else"

Illustration for Fisheries Act 1996

You can assign your rights and interests in a mortgage to someone else. You do this by filling out a special form called a memorandum of assignment. This form must be in the approved format.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM397660.

Topics:
Money and consumer rights > Banking and loansHousing and property > Buying and selling homes
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Part 8Registration of transfers, mortgages, caveats, etc
Mortgages of quota

138AAssignment of mortgages

  1. A mortgagee may assign to another person the mortgagee's rights, interests, and obligations under that mortgage by a memorandum of assignment in the approved form.

Notes
  • Section 138A: inserted, on , by section 15 of the Fisheries (Remedial Issues) Amendment Act 2001 (2001 No 33).