NSW LRS has recently conducted a review of additional fees raised under the Real Property Regulation 2014. The review found that there were some inconsistencies in the application of these fees across document types and transactions.
Item 7 of Schedule 1 of the Real Property Regulation 2014 states:
In addition to any other item, on lodgment of an application (other than an application to dispose of Crown land arising from the closing of a public road under the Roads Act 1993), request, dealing or caveat that will result in making, altering or removing more than 1 recording--for each additional recording
Moving forward NSW LRS will apply Item 7 of Schedule 1 of the Real Property Regulation 2014 consistently across all document types and transactions.
This means that where dealings are lodged that result in more than one recording being made, altered and/or removed an additional invoice will be generated and sent to the Lodging Party. Payment of the invoice must be made prior to registration of the dealings.
Please see below examples of dealings/transactions subject to Item 7 of Schedule 1 of the Real Property Regulation 2014:
Example 1:
A Lease is lodged affecting one folio of the Register. The Lease also operates as an implied surrender of a current lease recorded in the folio (the lodged Lease affects the same land, is in favour of the same lessee, commences before the expiry of the current lease, and is not made subject to the current lease). The following fees are payable on the transaction:
- A lodgment fee of $141.60 is charged to record the Lease
- 1 x additional fee of $141.60 is charged for the implied surrender and cancellation of the existing lease.
Example 2:
A Consolidation/Change of By-Laws is lodged. There is no recording in the folio that the initial period has expired. Approved Form 10 is lodged with the dealing to record the expiry of the initial period. The following fees are payable on the transaction:
- A lodgment fee of $141.60 is charged to record the consolidation of by-laws.
- 1 x additional fee of $141.60 will be charged to record the expiry of the initial period.
Example 3:
A Transfer Granting Easement is lodged that affects 1 servient tenement and 1 dominant tenement:
- $141.60 lodgment fee will be charged to record the affecting notation
- An additional fee of $141.60 will be raised to record the appurtenant notation
Example 4:
A single Discharge of Mortgage that affects one folio of the Register is lodged, but 2 x mortgages are being discharged:
- A lodgment fee of $141.60 is charged to discharge the first mortgage
- An additional fee of $141.60 is charged to discharge the second mortgage
—————————————————————————————————————————————————————————————————————
***This announcement supersedes the announcement made in July 2018.***
NSW LRS seeks to clarify the dealing and transaction types that will be subject to an additional fee pursuant to Item 7 of Schedule 1 of the Real Property Regulation 2014.
Item 7 of Schedule 1 of the Real Property Regulation 2014 states:
In addition to any other item, on lodgment of an application (other than an application to dispose of Crown land arising from the closing of a public road under the Roads Act 1993), request, dealing or caveat that will result in making, altering or removing more than 1 recording--for each additional recording
Commencing 28 August 2018 an additional fee under Item 7 will be payable for each additional recording where more than one action is being undertaken on the one form. Please note all existing invoices are payable to NSW LRS and are not affected by this announcement.
Please see the Item 7 Examples Table on the Additional Fees page for more information on how the fee will be assessed by NSW LRS in relation to a number of Dealings.