Variation of lease
Form 07VL (PDF 150 KB)
Dealing type - VL
Legislation - s55A Real Property Act 1900
Stamp duty - not required if the variation is dated on or after 1-1-2008. Required if the variation is dated before 1-1-2008 regardless of the terms or provisions varied.
Certificate of Title - not required
NOS form - not required
Standard form of Caveat - prevents registration.
Does prevent registration of a variation of lease by a mortgagee in possession.
A variation of lease may be registered after expiry of the lease provided that:
- the lease is still recorded on the Register and
- the lease expired less than 12 months ago. A variation of a lease that expired more than 12 months ago will not be accepted and
- the variation extends the term of the lease so that it is current at the time of registration.
A variation of a current lease may decrease the term providing the lease is still current at the time of registration.
Minister's consent is required for a variation of the lease or sublease if it was initially required for the lease or sublease and the Crown land restriction still applies.
The consent of the mortgagee of a mortgage of the lease or sublease being varied is required where:
- the term of the lease is reduced, and/or
- the interest of the mortgagee is adversely affected by the variation.
The consent of a sub-lessee of the lease being varied is required where their interest is adversely affected.
A variation of lease that alters the term of the lease must be recorded on the fee simple and leasehold titles where a leasehold title has been issued for the lease.
A variation of lease affecting a lease carried forward as a subsisting interest, i.e. 'Bk ... No. ... Lease To ...' must either:
- be registered as a deed in the General Register of Deeds and a Request form 11R together with an Old System search showing the party entitled to deal with the lease must be lodged to record the interest. A change in proprietorship must be registered in the General Register of Deeds. See Baalman and Wells, Land Titles Office Practice, Lawbook Co. 2001 [390.100]. Note The Variation of Lease form 07VL cannot be registered in this instance; or
- be accompanied by:
- an Old System search of the leasehold title and
- a statutory declaration made by the person who undertook the Old System search of the leasehold title stating:
- their qualification
- that he or she has inspected all deeds since the leasehold title was created to the present time
- the registered Book and No. and type of all instruments inspected to show the leasehold title has not expired and
- the registered Book and No. and type of all instruments to which the leasehold estate is subject.
A notification (code ULD): 'Devolution of Lease' is entered in the Second Schedule and all further transactions affecting the lease may be lodged on a Real Property Act form and do not require further evidence of devolution.
(A) The reference to title for the land affected by the lease must be stated. Where the property leased is contained in a lease folio, the number of the lease folio only must be stated.
(B) The registered number of the head lease of a sublease being varied must be stated. The reference to title for the land affected by the sublease must be stated. Where the property leased is contained in a lease folio, the number of the lease folio is the reference to title.
(D) The full name of the lessor must be stated and be identical to the name as shown on the Register.
A mortgagee in possession who has granted a lease may vary that lease. Note The term cannot be varied to exceed 5 years, including any options, where the mortgage is not exempt from s106 Conveyancing Act 1919. Where the term exceeds 5 years a statutory declaration is required stating the lease does not contravene s106 Conveyancing Act 1919. See Baalman and Wells, Land Titles Office Practice, Lawbook Co. 2001 [290.300].
(E) The registered number of the lease or sublease being varied must be stated.
(F) The full name of the lessee must be stated and be identical to the name as shown on the Register.
(G) The relevant clauses must be completed and the inappropriate clauses must be deleted and verified. Where there is a current option of renewal in the lease the variation must state whether it is preserved, relinquished or modified. The dropdown option N.A. on the interactive version of the form must only be used where there is NO current option of renewal in the lease.
The lease may be varied in relation to the rent, term or other provisions including any options to renew or purchase.
Note The land or premises affected by the lease, or the parties to the lease, cannot be varied by this dealing.
If the variation of lease changes the term or option to renew, attention must be given to the requirements for plans, council approval, time limitations, etc as regards the lease. See Lease 07L Note (C).
(H) The dealing must be executed by the lessor and the lessee and be witnessed, or it may be executed on their behalf as follows:
|Attorney and witnessed||Solicitor or Barrister||Authorised Officer and witnessed||Licensed Conveyancer|
|Lessor||if benefiting||if benefiting|
|Lessee||if benefiting||if benefiting|
Where the lessor or lessee is the Owners Corporation of a Strata scheme, execution must take the form as set out in Strata Schemes Approved Form 23 (PDF 20 KB). The following certificates are also required:
- Strata Schemes Approved Form 8 (PDF 20 KB) where the Owners Corporation benefits from the dealing or
- Strata Schemes Approved Form 9 (PDF 20 KB) where the Owners Corporation is burdened by the dealing and
- Strata Schemes Approved Form 10 (PDF 20 KB) where the initial period is not shown as expired on the common property title and the Owners Corporation is burdened by the dealing.
Where the lessor or lessee is the Association of a Community, Precinct or Neighbourhood scheme, execution must take the form as set out in Community Title Schemes Approved Form 18 (PDF 20 KB). A certificate as in Community Title Schemes Approved Form 21 (PDF 20 KB) is also required.
See execution requirements for companies, witnesses etc pages.
Staff processing information
If in order proceed with registration except for the following.
Refer to SD2
A variation of a lease affecting a title held by SD2.
Refer to SD6
A variation of lease involving:
- an Aboriginal Association or corporation
- the NSW/Local Aboriginal Land Council.
Refer to SM99
Where the lease includes an easement and the term is being varied.
Refer to Legal through the Senior Examining Officer
A variation of lease affecting a Book and No. lease accompanied by evidence of devolution of the lease.
PRIME CODE code of lease being varied as shown on the Register
PRIME NO. number of lease
SUB CODE ULV.
Variation of term
DETAILS Expiry Date Now ...
Variation of option of renewal
DETAILS Option Of Renewal ... Years.
Variation of sub-lease
PRIME CODE code of head lease as shown on the Register
PRIME NO. number of head lease
SUB CODE ULV press TAB
AFFECTED NO. number of sub-lease being varied.
To record the variation under the lease notification where subleases etc are registered
PRIME CODE notification code as shown on the Register of the first notification intended to follow the variation
PRIME NO. number as shown on the Register
NOTFN CODE ULV
DEALING NO. leave field blank (the number is automatically allocated)
DETAILS as above.
Affecting a Book and No. lease with satisfactory evidence of devolution
ADD. TRANSACTION UNDR
PRIME CODE code of lease as shown on the Register
PRIME NUMBER number of lease
SUB-CODE ULD (Devolution Of Lease).