Payment of Balance of Purchase Money
This page aims to help you complete an electronic Payment of Balance of Purchase Money dealing form. This form is used to advise that purchase money has been paid in full and request the Registrar General to remove from the Register the notification for balance of purchase money for closed road is payable.
NOTE: This form must only be used by Crown Lands.
Before lodging this document electronically via an Electronic Lodgment Network, a Subscriber must:
- verify their Client’s identity
- establish their Client’s right to deal with the land
- have a properly completed and executed Client Authorisation form and
- retain evidence that supports the dealing (see Supporting Evidence below).
The Subscriber must also certify that they have taken reasonable steps to ensure that the instrument is correct and compliant with relevant law and any Prescribed Requirement.
For more information on these requirements see:
Guide to complete
Legislation – section 13 Real Property Act 1900.
Stamp Duty – not required.
CoRD Holder Consent – not required.
Notice of Sale – not required.
Standard Form of Caveat – a caveat noted on the Register will not prevent the recording of a Payment of Balance of Purchase Money.
Priority Notice Noted on the Register - see Priority Notice page for more information.
The following headings refer to the data fields which must be completed in order to lodge an electronic Payment of Balance of Purchase Money dealing form.
Enter the land title reference(s).
Party Details – Party Name
Enter the applicant, being the State of New South Wales.
Create Document – Select Other Documents.
Select Payment of Balance of Purchase Money.
Select the registered number of the balance of purchase money notation being removed.
Select the registered proprietor.
Select the applicant, being the State of New South Wales.
Enter the account number.
In addition to evidence supporting the steps taken by the Subscriber to verify the identity of their Client and establish their Client’s right to deal, the Subscriber may be required to retain other evidence to support the dealing.
It is a matter for the Subscriber to be satisfied that they have met the requirements for the dealing. Please refer to the ARNECC Guidance Note 5 for assistance on retaining evidence to support conveyancing transactions in accordance with the NSW Participation Rules.
All NSW legislation can be accessed at www.legislation.nsw.gov.au