Paper mortgage certificate

A paper mortgage certificate embodies the secured claim and land charge in a physical document. Traditionally, transfer required not only land-register steps but also delivery of the certificate and, depending on its form, endorsement. The document’s custody is therefore legally and practically important; loss may require formal cancellation or replacement procedures before the right can be safely exercised. Although register mortgage certificates are now generally preferred, paper certificates still exist and may appear in older financing structures or conversions.