106Discharge of mortgage securing annuity or rentcharge

1. The Registrar must register the discharge of a mortgage that secures the payment of an annuity if the Registrar is satisfied that all arrears owing under the mortgage have been paid, satisfied, or discharged, and—

2. the annuitant has died; or
3. the annuity has ceased in accordance with the terms of the mortgage instrument.

4. The Registrar must register the discharge of a mortgage that secures a rentcharge if the Registrar is satisfied that—

5. the rentcharge has ceased to be payable in accordance with the terms of the mortgage instrument; and
6. all arrears owing under the mortgage have been paid, satisfied, or discharged.