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Mortgage: procure and furnish release of mortgage

  • 24-02-2016 2:14pm
    #1
    hugol
    Registered Users, Registered Users 2 Posts: 3 ✭


    Hi all, Can anyone explain what the below means? I don't know if it means the purchaser will have to take on the mortgage or not. All help appreciated!

    "The property is subject to a mortgage in favour of Allied Irish Banks plc. The Purchaser
    will accept the undertaking of the Vendor’s solicitor to procure the release of the said
    mortgage following completion and to furnish a vacate or release of the same with the
    registration fee thereon."
    Tagged:


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