I am acting on the sale of a residential property and there is a Real Property Act lease registered over the title.
The initial term of the lease expired in March 2020 and the tenant vacated the premises on the expiration of the initial term. The lease remains noted on the title, however the problem is that it contains 4 six (6) month options for renewal and under the circumstances would not be simply removed from the title on registration of the Transfer.
In days prior to PEXA (and if my memory serves me right) on the provision of a stat dec by the Lessor confirming that the option had not been exercised the notation of the lease in the second schedule would be automatically removed.
It seems to me that I would now have to obtain a Surrender of Lease signed by the Lessee and lodge it for registration in order that the lease be removed from the second schedule.