8.5 Security rights

A security right secures payment or performance against land or a right in land.

For each security right, the organisation shall record:

jurisdictional right type;

secured ownership or possessory right;

holder or holders;

burdened extent;

priority information, where relevant and evidenced;

registration or instrument reference; and

release, discharge or expiry information, where available.

The underlying debt amount shall be recorded only where necessary for the requirement and lawful to process.