Dealing type - TJ
Legislation - s73 Water Management Act 2000
Stamp duty - Not required.
WAL Certificate - Not required.
Caveat noted on the WAL Folio - If specifically prohibited, refer to the SD6 for service of notice on the caveator.
This form is used where one of the registered holders of a WAL intends to sever a joint tenancy.
- this form may only be used for a unilateral severance of a joint tenancy, ie where one joint tenant only transfers to his or her self in order to hold the WAL as a tenant in common in shares equal to the interest held as a joint tenant.
- Transfer form W-01T must be used where more than one joint tenant severs a joint tenancy.
- the tenancy and shares held between other registered holders not holding as a joint tenant with the transferor are not altered by the transfer.
- if the dealing attempts to alter, add or remove other details, a Transfer form W-01T, or other suitable form, must be lodged.
The written consent of every registered mortgagee, chargee and covenant chargee of the WAL folio must be lodged with the transfer. Production of the WAL certificate by the mortgagee or chargee to allow registration of the dealing is acceptable in lieu of written consent. See s71L Water Management Act 2000.
After lodgment and before the transfer may be registered notices are prepared and sent to the joint tenant(s) not included in the transfer, except in the case of a joint tenant who witnesses the transfer or who indicates in writing that he or she has received legal advice as to the severance.
Where notices are sent registration is delayed for 30 days from the date of sending the notices or until consent is received. If consent is furnished with the transfer, notices must still be sent (for information purposes only) before the transfer is registered.
The transfer will proceed for registration on expiry of 30 calendar days from the dating of the notice or on receipt of the consent of all the joint tenants to whom notice was sent.
(E) The number of the WAL being transferred must be stated.
(F) The tenure type of the WAL must be stated and agree with the tenure type shown on the WAL folio, ie Continuing, Specific Purpose or Supplementary.
(G) The full name of the sole transferor/transferee must be stated and must be identical to the name shown on the WAL folio.
(H) The statutory declaration must be completed by the transferor/transferee.
The statement "I am not subject to any legal constraint which would prevent me severing the joint tenancy" must not be altered or deleted, except where the statutory declaration is made by the attorney for the transferor. The statement should be modified to read: "I [attorney's name], am not aware of any legal constraint which would prevent [transferor's name] severing the joint tenancy".
The statement “The remaining joint tenant(s) is alive;” must not be altered or deleted.
The statement “I do not hold the estate in a fiduciary capacity;” must not be altered or deleted, except where the statutory declaration is made by the attorney for the transferor. The statement should be modified to read: "The transferor does not hold the estate in a fiduciary capacity”.
The full name and postal address of the other joint tenant must be stated. The name must be identical to the name of the other joint tenant as shown on the WAL folio.
Note A discrepancy in a name stated in Item 4 must be accounted for in the statutory declaration, eg "formerly known as ...". The name will only be changed on the WAL folio by lodgment of a Change Of Name form W-10CN.
The statutory declaration must be made by the transferor/transferee or their attorney and must be witnessed by a prescribed functionary. Where the declaration has been made outside NSW reference to the Oaths Act 1900 must be deleted, the relevant Act must be inserted and the alteration verified.
Staff processing information
Refer to SD31 where any of the following notifications appears on the folio of the Register:
Refer to SD52 in all other cases.
For SD6 - Refer to Legal through the Senior Examining Officer where the registered holders hold in a fiduciary capacity. Include a copy of the WAL dealing of acquisition.
A 'Notice of Severance of Joint Tenancy' form must be completed, dated and sent to the joint tenants stated in the statutory declaration, except where the joint tenant has witnessed the execution or indicates in writing that they have received legal advice as to the severance.
A 'Notice to Mortgagee or Chargee of Severance of Joint Tenancy' form must be completed, dated and sent to all mortgagees and chargees stated in the statutory declaration, except where the mortgagee or chargee has produced the WAL certificate for the transfer.
- where notices are to be sent to more than one party, all notices must be forwarded at the same time and allow the same period of time for reply
- where a discrepancy in a name exists, separate notices must be prepared and addressed under each name and
- if the recipient of a notice has a current LPI Document Collection Box in Document Collection Section, the LPI Document Collection Box number may be used.
The panel relating to preparation of notices on the front of the WAL dealing must be completed or the dealing must be marginally noted: 'Notices sent [date]'.
The transfer must be sent to the File Press.
The transfer must proceed for registration on expiry of 30 calendar days from the dating of the notice, or on receipt of the consent of all parties set out in the statutory declaration.
Dated copies of notices sent and all consents furnished must be filmed with the transfer.
SD6 - Registration procedure
Affecting the registered holders
CODE (name) P, C or Q [name of transferee; include all current registered holders]
TENANCY T2 etc.
Note The severance of joint tenancy will result in the transferee holding the WAL as tenant in common with the other joint tenant in shares equal to the interest previously held as a joint tenant.
DELIVERY DETAILS NOCT where the WAL certificate has not been produced.