Control of the Right to Deal (CoRD)
In the Torrens System of title by registration, there are two key concepts that underlie current arrangements in NSW.
1. The Right to Deal
The right to deal with land in a land title is the inherent right of the registered proprietor to deal (i.e. transact) with their land.
2. Control of the Right to Deal (CoRD)
A party has Control of the Right to Deal (CoRD) when that party has authority to consent to the registration of a subsequent interest in land. For example, if land is mortgaged, the first registered mortgagee such as a financial institution has CoRD.
When there are no registered mortgages or charges on a land title, the registered proprietor has both the right to deal and Control of the Right to Deal with the land in the land title.
When the only mortgage or charge is discharged, CoRD is transferred back to the registered proprietor and a Certificate of Title is issued and delivered.
Evidence of CoRD how CoRD is evidenced in NSW.
Consent for registry plans options for a CoRD holder to consent to registration of paper and electronic registry plans.
Parties eligible for an eCT requirements for eligibility for an electronic Certificate of Title (eCT).
What is an eCT? information in a land title search regarding the issue or non-issue of the CT.