Community plan folios
See - Community Title schemes page.
Company title
Before the introduction of Strata Titles, a block of flats could be held under what is known as 'company title'. Each flat is leased for a long term, e.g. 999 years. The lot occupied by the block of flats is owned by the lessees of the flats as tenants in common in equal shares.
For convenience, separate fee simple manual folios for each share and leasehold titles for each flat are created. The folio for each share includes in the Second Schedule:
- the lease description of each flat, i.e. '[dealing number] Lease of Flat No. ... Expires ...'; and
- the folio reference of the leasehold title for the flat.
The folio for each leasehold title:
- is described in the land description as 'Leasehold Estate in Premises Known as Flat No. ... [address] In The Building Erected On Lot ... In DP... Created by Lease ... Expires ...'; and
- includes the folio reference for the shares of the fee simple estate.
'Company title' may also consist of a single folio for the block of flats held in the name of a registered company. Ownership etc of the flats etc is determined by shares held in the company. The company and share arrangements are registered with the Australian Securities and Investment Commission (ASIC).
Computer folios
A standard computer folio may be created for a single parcel of land, ie a whole lot in a current registered plan of subdivision. For a parcel containing more than one lot an auto consol folio may be created.
Auto consol folios
An auto consol folio shows under Notations: Schedule of Parcels the lots or portion numbers and title diagram plan numbers of all the parcels of land contained in the folio. The Auto Consol Folio Identifier has the same reference to title number as the Volume and Folio of the manual folio that has been converted, e.g. Auto Consol 12345-67.
The land comprised in an auto consol folio may vary as lots are excised from the folio. The changes are recorded in the Historical File for searching purposes.
Consolidation of folios (share folios)
If following registration of a dealing affecting share folios, all the folios will be held in the same ownership.
Staff processing information
Refer consolidation action to SM99.
Crown land tenure perpetual lease and term lease
See Crown land page.
Leasehold estate folios
See Leasehold estate folios page.
Leasehold strata schemes
See Leasehold estate folios page.
Life estate and estate in remainder
See Life estates page.
Limited folios
See Cautions page.
Multiple ownership
A multiple ownership folio is created by registration of a plan of subdivision or consolidation, such that the owners of the prior folios are registered as owners of the different parts of one folio. The multiple ownership is recorded in the First Schedule of the new folio of the Register for the shared land.
See Greg Stilianou, Land Titling Law and Practice in NSW, Lawbook Co. 2013 re:
- dealings with land to follow title boundaries and current plan provisions [12.180] – [12.250]
- exception to the rule [12.260] – [12.280]
- resolving multiple ownership [12.290] – [12.310].
Example
X and Y lodge a plan of subdivision over part of their respective lots 6/712345 and 5/765432 to create an new lot 1/789012. Three new folios are created:
- Folio 2/789012, registered proprietor 'X' (for the residue land)
- Folio 3/789012, registered proprietor 'Y' (for the residue land)
- Folio 1/789012, registered proprietor 'X As Regards The Part Formerly Comprised In 6/712345 And Y As Regards The Part Formerly Comprised In 5/765432'. Note The line dividing the 'parts formerly comprised in ...' is not a legal parcel boundary, see Sections 23F and 23G Conveyancing Act 1919.
An interest relating to one of the parts only is recorded in the Second Schedule, e.g. 'T123 Mortgage To Z As Regards the Part Formerly Comprised In 6/712345'.
Note Multiple ownership exists only in terms of parts of the land formerly owned, not in terms of a joint tenancy or tenancy in common.
Sections 23F and 23G Conveyancing Act 1919
Sections 23F and 23G Conveyancing Act 1919 (formerly s327AA Local Government Act 1919) require that land transferred, mortgaged, or leased for more than 5 years including any option of renewal, must be defined as a lot in a current registered plan held in NSW LRS.
Thus a transfer, mortgage or lease of part of the land owned by X in 1/789012 in the above example may contravene the Act because it describes the land in terms of a former plan, i.e. lot 6 in DP712345, and not the current plan, i.e.. DP789012. The dealing may be registered if it attempts to resolve the multiple ownership, i.e. the dealing must move towards bringing all parts of the folio into single ownership, e.g. a transfer from X to Y.
A mortgage affecting a prior lot may be accepted if a mortgage to the same mortgagee is registered over the remainder of the land in the folio, e.g. a mortgage to Z of part of the land formerly comprised in 6/712345 owned by X may be accepted if a mortgage to Z is already registered over part of the land formerly comprised in 5/765432 owned by Y.
Note The Encumbrances in a dealing are only applicable to the part affected, e.g. a transfer affecting the land formerly comprised in 6/712345 need not be made subject to a writ affecting the land formerly comprised in 5/765432.
Staff processing information
A dealing that does not resolve, or attempt to resolve the multiple ownership may contravene s23F and s23G Conveyancing Act 1919 and must be referred to the Administrative Officer (Practice) DRD2 before acceptance.
Neighbourhood plans folio
See - Community Title schemes page.
Precinct plan folios
See - Community Title schemes page.
Qualified folios
See Cautions page.
Share folios
On request and payment of prescribed fees by any tenant in common, separate folios may be created for each share.
Dealings by one tenant in common are registered on that tenant's folio only. Dealings affecting the whole of the land are registered on all of the folios. Where any dealing results in all the share folios being held by the one proprietor, consolidation action will be considered.
Generally each share folio has the same Folio Identifier number with the letters 'A', 'B' etc added to the Folio number to distinguish the individual share folios. Reference is made to the share and tenancy in the land description.
Special format lease folios
See SD2 leases page.
Strata folios
Following registration of a Strata plan, a computer folio for the common property, numbered 'CP/SP...' and vested in the Owners Corporation, and computer folios for each lot in the scheme, numbered '1 - .../SP...', are created.
Time-share folios
Folios for developments, such as holiday resorts, where several proprietors hold a time share in a unit, i.e. a share based on the length of time each proprietor is allocated for use of the unit, are created as new share folios. The most common method of registering a time-share scheme is the creation of tenants in common folios for the shares with a long term lease to the time share company which holds the management rights etc registered on each folio. A folio is created for each time-share folio.
The land description includes a reference to the share.
Volume 5018 Folio 1
Old Form manual folio of the Register Volume 5018 Folio 1 contains land administered by the Marine Ministerial Holding Corporation, formerly the Maritime Services Board.
Refer all dealings to SM99
Volume 5913 Folio 167
Old Form manual folio of the Register Volume 5913 Folio 167 contains land granted under the Governor General's Residence Grant Act 1945 to the Commonwealth of Australia for the purpose of the official residence of the Governor General of the Commonwealth.
Staff processing information
Refer all dealings to Legal through the Senior Examining Officer.