On 11 October 2021, the Real Property Amendment (Certificates of Title) Act 2021 commenced, which abolished the Certificates of Title (CTs) and the control of the right to deal (CoRD) framework. All existing CTs have been cancelled and CTs will no longer be issued. Existing CTs will not need to be produced, and CoRD holder consent will not be required, for a dealing or plan to be registered. All existing Guidelines subject to this change are currently being reviewed and will be updated to reflect these changes. For further information regarding the abolition of CTs, please see https://www.registrargeneral.nsw.gov.au/property-and-conveyancing/eConveyancing/abolition-of-certificates-of-title


 

Valuer’s certificate

The schedule  of  unit  entitlements  lodged  with  a  scheme  plan  or  any  subsequent  scheme  plan  of subdivision  must  be  based  on  the  comparative  market  value  of  the  lots,  as  determined  by  a qualified  valuer. 

The Valuer’s certificate is to certify the schedule of unit entitlement. This must be completed by a qualified valuer and provide the following:

  • the valuer’s full name

  • the company the valuer works for or where there is no company, the valuer’s full address

  • confirmation that the valuer is a “qualified valuer” as defined in the Dictionary Community Land Development Act 2021

  • the professional body of which the valuer is a member, and

  • the valuer’s class of membership and their membership number

‘Valuation day’

Valuers must include the date that the valuer made the valuation and apportioned the unit entitlements (the "valuation day") in accordance with section 31 Community Land Development Regulation 2021. 

Section 31 of the Regulation prescribes the valuation day to be, for a:

  • Scheme plan – a day within 2 months before an application is made for a subdivision certificate.

  • Scheme plan of subdivision that subdivide or creates association property or adds land to a scheme - a day within 2 months before an application is made for a subdivision certificate.

  • Scheme plan of subdivision that do not alter association property or add land to a scheme – the valuation day for the original scheme plan or, if there has been a subsequent subdivision affecting the association property, the most recent valuation day

  • Schedule of unit entitlement accompanying an acquisition plan – a day within 2 months before an application is made for a subdivision certificate or, if the subdivision certificate is not required, 2 months before the date of the transfer of the relevant land.

  • Schedule of unit entitlement accompanying an amalgamation, where the unit entitlement for the community scheme will be revised – a day within 2 months before an application is made for the subdivision certificate or, if the subdivision certificate is not required, 2 months before the date of the transfer of the relevant land.