Hi,
I'm referring to: "24/7/18 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.
Item 7 of Schedule 1 of the Real Property Regulation 2014 states:
In addition to any other item, on lodgment of an application (other than an application to dispose of Crown land arising from the closing of a public road under the Roads Act 1993), request, dealing or caveat that will result in making, altering or removing more than 1 recording--for each additional recording
Moving forward NSW LRS will apply Item 7 of Schedule 1 of the Real Property Regulation 2014 consistently across all document types and transactions.
This means that where dealings are lodged that result in more than one recording being made, altered and/or removed an additional invoice will be generated and sent to the Lodging Party. Payment of the invoice must be made prior to registration of the dealings."
So far we've heard that 2 discharges of mortgage on the one title incur double the lodgement fee (nothing's changed there). A Transfer under Power of Sale now incurs additional fees to remove each encumbrance (i.e. Mortgage and/or Equitable Mortgagee's Caveat) on title.
We feel the wording is open to interpretation as we're not sure what they class as a "recording" and NSW LRS are difficult to communicate with. The NSW LRS enquiry line says multiple titles on a document do not incur additional fees, however we have heard of cases where the NSW LRS have billed $141.60 for each additional title. So much for consistency. We need to be certain of the lodgement fees payable. Just wondering what experiences you've had.
Regards
Baz
@DavidMcDowell
