Lease of part of land: new NSW LRS checklist
NSW Land Registry Services (LRS) is a private company that operates the land titles registry on behalf of the NSW Government. LRS operates under a 35-year concession that took effect on 1 July 2017. The land titles registry is a vital part of our society, given the extent to which property law underpins the structure of our economic system. LRS’ operations are overseen by the NSW Government’s Office of the Registrar General, which is responsible for maintaining NSW land title legislation and policy.
In our legal practice we deal very regularly with LRS, lodging dealings for registration on behalf of our clients. If a dealing (such as a lease) lodged at LRS for registration is incorrect in any way, upon inspection of the document LRS would likely ‘requisition’ the dealing. This is where LRS issues a notice to the lodging party that the document needs to be corrected in one or more ways. A requisition causes delay and possible extra costs to the registration process.
As part of an LRS initiative to assist customers and lodging parties when only part of land will be leased under a lease, a new checklist has been published by LRS. While it is not mandatory to use the checklist, it is highly recommended. LRS now has a suite of such checklists, for various dealings and plans. It is in the interests of all parties that the registration process at LRS proceeds as efficiently as possible.
The new checklist sets out key requirements that must be addressed before lodgement of a lease of part of land. The checklist aims to ensure that common mistakes are identified and resolved before lodgement therefore reducing requisitions. The new checklist can be found in the NSW LRS Help Hub.
When preparing dealings for lodgement at LRS for our clients, we rely on a combination of:
our expertise and years of experience in dealing with LRS and its predecessor Land & Property Information; and
all available and up-to-date resources as published by either LRS or the Office of the Registrar General.