About BGoodwin

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-NSWORG   ... View more

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 ... View more