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54. Discharge of mortgage

(1) A registered mortgage may be discharged by registering a discharge of mortgage.
(2) A discharge of mortgage may discharge the debt or liability secured for —
(a) all or part of the mortgage; or
(b) one or more of the mortgagors.
(3) On the discharge being registered —
(a) the mortgage is discharged; and
(b) the real property is released from the mortgage, to the extent shown in the discharge.