Transfer of Lease

This page aims to help you complete an electronic Transfer of Lease dealing form. This form is used for the transfer of a registered lease by the lessee.

NOTE: This form is to be used to transfer a registered lease instead of a Transfer of Interest dealing form. A Transfer of Interest can only be used to transfer a mortgage or charge.

A transfer of lease affecting an expired lease will only be registered where:

• the expired lease is still recorded on the Register;
• the transfer of lease is dated before the expiry date of the lease and:
  • the lease expired less than 12 months ago or
  • the lease contains a current first option to renew or
  • is within 12 months of expiry period or within a current first option to renew term, and is accompanied by a Variation of Lease extending the term. NOTE: In this scenario, the dealings must be lodged as a Dealing with Exception.

NOTE: A transfer of a Crown land tenure Term lease or a Crown land Real Property Act lease must be lodged as a Dealing with Exception.

NOTE: A transfer of lease affecting a lease carried forward as a subsisting interest, i.e. 'Bk ... No. ... Lease To ...' must be lodged in as a Dealing with Exception.

NOTE: Where a writ is recorded against the lease, this dealing form must be lodged in as a Dealing with Exception, unless the Court consents to the dealing or the writ is removed.

NOTE: Both the transferor (lessee) and transferee (new lessee) 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

Stamp Duty – required.

Notice of Sale – not required.

Standard Form of Caveat – a caveat noted on the Register will prevent the recording of a Transfer of Lease where the caveat is drawn against the lease.

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 of Lease dealing form.

Land Title

Enter the land title reference(s).

Participant Details

Party Details – Party Name

Select the transferor being the lessee of the subject lease.

Enter the transferor being the incoming lessee.

Document

Create Document – Select Other Documents.

Select Transfer of Lease.

Dealing on Title

Select lease.

Lease Dealing Number

Select the dealing number of the lease being transferred.

Transferor

Select the transferor being the lessee of the subject lease.

Transferee

Select the transferee being the incoming lessee.

Tenancy/Shares of the Transferee

Enter the tenancy/shares of the transferee.

Consideration (optional)

Enter the consideration.

Attachment

Attachment Type – Conditions and Provisions (optional)

Attach any conditions and provisions if required.

Attachment Type – Caveator’s Consent

Attach a caveator’s consent if 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 13 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, a certificate in the form of Approved Form 21 is required. Execution of the certificate must take the form as set out in community title schemes Approved Form 18.
 
Attachment Type – Mortgagee’s Consent

Attach a mortgagee’s consent if 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