Merchant Shipping Order, 2002 · s 27

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s 27Entry of discharge of mortgage

Where a registered mortgage is discharged, the Registrar shall, on production of the mortgage, with the discharge duly signed and attested, make an entry in the register to the effect that the mortgage has been discharged, and on the entry being made, the estate, if any, which passed to the mortgagee shall vest in the person in whom (having regard to any intervening acts and circumstances) it would have vested, if the mortgage had not been made.

Priority of mortgages.