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Conveyancing in NSW Practice GuideConveyancing NSW Practice Guide

Product Description

Conveyancing in NSW Practice Guide provides the ‘practice and procedure’ of Electronic Conveyancing. Until recently, conveyancing has been a paper based transaction in which certificates of title, transfer forms and bank cheques have been exchanged to transfer the ownership of land in NSW

Contents

  • 1          PEXA and eConveyancing
  • 1.1 Before using
  • 1.2 Stamp Duty
  • 1.3 PEXA Conveyancing procedure
  • 2          Overview
  • 3          Taking instructions
  • 4          Exchange by email
  • 5          Requisitions on title and vendor warranties
  • 6          Contract
  • 6.1 Parties
  • (a)       Joint tenancy
  • 6.2 Property
  • 6.3 Torrens Title
  • 6.4 Strata Title
  • (a)       Utility lots 12
  • 6.5 Strata title leasehold
  • 7          Community title
  • 8          Retirement villages and time share
  • 8.1 Other title systems
  • 8.2 Old system title
  • 9          Qualified title and limited title
  • 10        Company title
  • 11        Crown land
  • 12        Leases
  • 13        Price and taxes
  • 14        Foreign resident capital gains withholding
  • 14.1    Land tax
  • 14.2    Valid clearance certificates
  • 15        Contract
  • 15.1    Form of contract
  • 15.2    Inclusions
  • 15.3    Disclosure and requirements for listing contract including swimming pools
  • 15.4    The list of prescribed documents and notices is:
  • 16        Swimming pools
  • 16.1    Registration
  • (a)       Penalties for failing to register
  • 16.2    Swimming pool compliance and non-compliance certificates
  • 16.3    Purchasing a property with a non-compliance certificate
  • 17        Home builder’s liability
  • 17.1    Limit of liability
  • (a)       Statutory liability
  • (b)      Warranties – Section 18B
  • (c)       Successors in title
  • 17.2    Insurance requirements
  • (a)       Owner-Builders
  • (b)      Making a claim
  • (c)       Building contract requirements under the Act
  • (d)      Obligations on sale
  • (e)      Owner builders
  • (f)       Building work without contract
  • (g)       Developers
  • (h)      In general
  • 18        Contract conditions
  • 18.1    Implied terms
  • (a)       Waiver
  • (b)      Finance condition
  • (c)       Foreign Investment Review Board
  • (d)      Express obligation to satisfy any conditions
  • (e)      Condition that settlement subject to registration of plan
  • (f)       Statutory warranty
  • 19        Less common situations
  • 19.1    Waterfront properties and foreshore maritime structures
  • 19.2    Possession before settlement
  • 19.3    Variation of contract
  • 19.4    Nomination assignment and novation
  • 19.5    Default by nominee
  • 19.6    Purchaser’s lien
  • 19.7    Terms contract
  • 19.8    Sales before registration of plan creating the subject lot
  • 19.9    Sale of a fractional share
  • 20        Sale of company title
  • 21        Off the plan
  • 21.1    Options
  • 22        Negotiation and exchange
  • 23        Special conditions
  • 23.1    Exchange
  • 23.2    Cooling off
  • 24        Mid transaction
  • 24.1    Caveats and priority notices
  • 24.2    Enquiries after exchange
  • 24.3    Requisitions and replies
  • 25        Stamp duty, grants, concessions and exemptions
  • 25.1    Transfer
  • 25.2    Certificates of title
  • 25.3    Paper settlements
  • 25.4    Electronic settlements – via PEXA
  • 26        Mortgagees
  • 27        Notices of sale
  • 28        Claims
  • 29        Disputes
  • 30        Notices
  • 31        Settlement
  • 31.1    Adjustments
  • 32        Settlement
  • 33        Settlement and merger
  • 34        Finalisation
  • 35        LINKS  1

The Rules have changed

The rules have changed in a figurative and literal sense.

From 1 July 2018 all Transfers and Caveats must be lodged electronically. By 1 July 2019 all mainstream conveyancing transaction will be electronic only. After this, there will be no more Certificates of Title.

This is a mandatory requirement. Whether or not you think this is a good thing, it is a fact. There are a number of separate entities that govern the transaction in land.

  • The Land Titles office became LPI and is now ‘New South Wales Land Registry Services’
  • The Conveyancing Rules change daily
  • PEXA has emerged as a new intermediary.
  • The Office of State Revenue and the ATO each have an involvement in every transaction.
  • Each entity has its own rules and procedures.

As a professional, how you do you get the job done?  Conveyancing in NSW Practice Guide is a step by step guide to the practice and procedure of Electronic Conveyancing as it evolves. The manual is a month to month subscription because the practice and procedure literally changes month by month. This Conveyancing guide is written by lawyers, for lawyers.

Coinciding with New South Wales Land Registry Services taking over land titles, the registry has begun charging practitioners and agents a $50.00 fee for requisitions. Not getting your documentation perfect the first time will now impact on your bottom line (or cost your client more). Many of the New South Wales Land Registry Services requirements are not listed in the Registrar General’s notes relating to document lodgement.

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