Transfer Creating a Profit à Prendre

This page aims to help you complete an electronic Transfer Creating a Profit à Prendre dealing form. This form is used to create a profit à prende (note that the Transfer Creating a Forestry Right dealing form must be used to create a forestry right) affecting Torrens Title land pursuant to section 47 Real Property Act 1900 and section 88AA Conveyancing Act 1919.

For more information regarding profit à prendres see the profit à prendre page.

NOTE: Both the transferor and transferee must be represented in the workspace for this dealing form. 

Subscriber requirements

Before lodging this document electronically via an Electronic Lodgment Network, a Subscriber must:

1. verify their Client’s identity
2. establish their Client’s right to deal with the land
3. have a properly completed and executed Client Authorisation form and
4. 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:

Residual Documents

Guide to complete

Legislation – section 88AA Conveyancing Act 1919 and section 47 Real Property Act 1900.

Stamp Duty – required where monetary consideration is paid. Select Transfer Creating a Profit à Prendre (with Stamp Duty).

Not required where no monetary consideration is paid. Transfer Creating a Profit à Prendre (without Stamp Duty) can be selected for a transaction creating a profit à prende without monetary consideration.

NOTE: For consideration of any amount more than $0.00, a duty assessment is required and a Transfer Creating a Profit à Prendre (with Stamp Duty) must be lodged. 

Notice of Sale – not required.

Standard Form of Caveat – a caveat noted on the Register will prevent the recording of a Transfer Creating a Profit à Prendre. A caveat will not prevent registration if noted against the dominant tenement.

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 Transfer Creating a Profit à Prendre dealing form.

Land Title

Enter the land title reference(s) for the servient tenement (land burdened).

Participant Details

Party Details – Party Name

Select the registered proprietor of the servient tenement.

Enter the registered proprietor of the dominant tenement or statutory authority/applicant where the profit à prendre is in gross.

Document   

Create Document – Select Other Documents.
   
Select either:

• Transfer Creating a Profit à Prendre (with Stamp Duty) where stamp duty is payable or
• Transfer Creating a Profit à Prendre (without Stamp Duty) where no stamp duty is payable. 

Transferor

Select the registered proprietor of the servient tenement.

Transferee
Select the registered proprietor of the dominant tenement or statutory authority/applicant where the profit à prendre is in gross.

Consideration

Where stamp duty is payable, enter the consideration amount.

Commencing Date

Enter the commencing date.
 
Terminating Date

Enter the terminating date.

Servient Tenement

Enter the servient tenement.

Dominant Tenement (optional) 

Enter the dominant tenement (if applicable).

NOTE: a profit à prendre may or may not have a dominant tenement.
 
Tenancy of Transferees

Enter the tenancy/shares. Tenancy/shares must be stated where there is more than one transferee.

Attachment

Attachment Type – Conditions and Provisions

The attachment must contain the details of the profit à prende created.

NOTE: a plan fee is payable where the dealing is reliant on a plan annexed. There is no plan fee payable for a plan annexed that is used solely to explain terms found in the agreement, e.g. used to describe afforestation areas, fire breaks etc.

The consent of all lessees is required to be attached together with the conditions and provisions.

Attachment Type – Minister’s Consent

The Minister's consent is required where a Crown land restriction pursuant to section 5.13 Crown Land Management Act 2016 is noted on the Register. If there is an existing reference to section 102 of the now repealed Crown Lands Act 1989 then the Minister’s consent is still required.

Attachment Type – Approved Forms

Where the transferor or transferee is the owners corporation of a strata scheme, the following certificates are required:

• strata schemes Approved Form 14 where the owners corporation benefits from the dealing or
• strata schemes Approved Form 13 where the owners corporation is burdened by the dealing and
• strata schemes Approved Form 10 where the initial period is not shown as expired on the common property title.

Execution of the certificates must take the form as set out in strata schemes Approved Form 23.
Where the transferor or transferee is the Association of a Community, Precinct or Neighbourhood scheme, execution must take the form as set out in Community Title Schemes Approved Form 18.  A certificate as in Community Title Schemes Approved Form 21 is also required.

If the profit a prendre being created benefits association property or the whole of a community parcel then an ordinary resolution and a certificate as in Community Title Schemes in Approved Form 40 is required.

Supporting evidence

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
 

Publication Date: August 2024