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Form LRA 58 - Discharge of Charge

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DOCX
Pages
4
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Document Overview

Form LRA 58 is the statutory form used to formally discharge (release) a charge that was registered against a property. A charge is typically a loan or mortgage secured by land.

The form records:
- Title Number of the property.
- Details of the Charge(s) (date, entry number).
- Parties involved – the Chargor (borrower/landowner) and the Chargee (lender/bank).
- Principal amount secured.
- Statement by the Chargee that the debt has been paid or otherwise secured, and that the charge is therefore discharged.
- Execution and sealing by the Chargee and Chargor.
- Certification under Section 45 of the Land Registration Act confirming voluntary execution.
- Registration by the Land Registrar to update the land register.
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