Hi all,
We've been in contact with the NSW LRS but keep coming up with more scenarios, and as they're hard to contact I thought I'd see what the general opinions are.
I'm referring to:
"NSW LRS has recently conducted a review of additional fees raised under the Real Property Regulation 2014. The review found that there were some inconsistencies in the application of these fees across document types and transactions.
Moving forward NSW LRS will apply Item 7 of Schedule 1 of the Real Property Regulation 2014 consistently across all document types and transactions.
The current lodgment fee for a Real Property Act dealing is assessed at the time of lodgment. Additional fees may be assessed at any time after lodgment and are payable before registration of the dealing.
In addition to any other item, on lodgment of an application, request, dealing or caveat that will result in making, altering or removing more than 1 recording--for each additional recording."
They provide only 4 examples, but we're also told a Change of Name via the National Mortgage lodged in PEXA incurs a double lodgement fee, as does a Transfer under Power of Sale incur additional fees to the remove each of the registered mortgage/charge from title.
So what is the case when we lodge a mortgage, transfer or discharge of a mortgage over multiple NSW titles. Is the standard fee multiplied by the number of titles involved? Sorry, but I feel the wording of the regulation to open to interpretation, and I get the same impression when I call the LRS.
Regards,
Barry
@DavidMcDowell-NSWORG
