Transfer by chargee under power of sale

Form 01CT (PDF 130 KB)

Dealing type - CT

Legislation - s58 Real Property Act 1900

Stamp duty - Required. The number of title references indicated by Revenue NSW must agree with Note (A).

Any alteration to the title reference, to the estate being from leasehold to fee simple, tenancy, interest/share, consideration, or change to the names of the parties must be marked. A minor change in spelling that does not alter the identity of a party may be ignored.  The addition of a name must be marked.

Not required where a change in estate is to a lesser estate.

Certificate of Title - Required for:

  • the land being transferred
  • the servient tenement where an easement is included.

Not required for a transfer of a lease.

NOS form - Required for:

  • a change of the First Schedule
  • a change of the lessee of a Crown land tenure Perpetual lease.

Panels 1, 2, 3, 4 and 5 require completion. Ignore 3A and 4 if the transfer is not for value.

Not required for a time-share title.

Standard form of Caveat - Dealing to be referred to Legal Services to ascertain if caveat prevents registration except where the interest claimed is pursuant to an unregistered mortgage or loan agreement, in which case an unqualified caveat will be removed on registration of the transfer.

Priority Notice noted on the Register - see Priority Notice page.

Minister's consent may be required for certain Crown land tenures and Crown land Real Property Act leases.

The dealing must not include any reference to the transferee being a trustee, executor or administrator for another party.

(A)  The reference to title for the land affected by the charge must be stated.

A transfer that attempts to dispose of part of the land in a multiple ownership folio, e.g. 'as regards the part formerly comprised in ...', and does not resolve or attempt to resolve the multiple ownership, may contravene s23F and s23G Conveyancing Act 1919.

(C)  The full name of the registered proprietor must be stated and must be identical to the name of the charger as shown on the Register.

(D)  The full name of the transferor must be stated and must be identical to the name of the mortgagee in the relevant mortgage as shown on the Register.

(E)  The registered number of the charge pursuant to which the power of sale is being exercised must be stated. Where the charge is an Old System charge shown in the Second Schedule, i.e. 'Book ... No. ... Charge to ...', the requirements are the same as for an Real Property Act charge. 

Note  A charge pursuant to the Contaminated Land Management Act 1997 has priority over all other interests. The date of the charge is optional.

The consideration must be stated and must agree with the purchase price stated in the NOS form.

(F)  A writ recorded before the subject charge must be noted in the Encumbrances, or the Court must consent to the dealing, or the writ must be removed.

Any dealing noted in the Encumbrances of the transfer, except for the subject charge, will remain on the Register.

Any mortgage or charge that is to remain on the Register and does not have priority over the mortgage that is the subject of the power of sale must be noted in the Encumbrances.

(G)  The full name of the transferee must be stated.

(H)  Tenancy/shares must be stated where there is more than one transferee.

(I)  The dealing must be executed by the transferor and transferee 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
Transferor Tick Cross Tick Cross
Transferee Tick Tick Tick Tick

Note  The registered proprietor of the estate or interest affected by the subject charge is not required to execute the dealing.

See execution requirements for companies, witnesses et. pages.  

See Baalman and Wells, Land Titles Office Practice, Lawbook Co. 2001 [365.200].

(J)  This section is to be completed where the notice of sale data (see NOS form above) has been forwarded to LPI through the eNOS facility.

Notes

  • Any dealing noted in the Encumbrances of the transfer, except for the subject mortgage, will remain on the Register.
  • All dealings registered prior to or that have priority over the subject charge will remain on the Register.
  • The subject charge and any charge that does not have priority over the subject charge and is not noted in the Encumbrances will be removed on registration of the transfer.
  • An equitable charge or a writ recorded after the subject charge and not noted in the Encumbrances will be removed on registration of the transfer and
  • All current leases will remain on the Register.

Staff processing information

If in order proceed with registration except for the following.

Refer to DRD2

Where a mortgage or a charge other than the subject charge is noted in the Encumbrances.

Refer to SD52

Where the transfer severs a joint tenancy.

Refer to SM99

Where an easement:

  • is included in the transfer
  • was created by the subject mortgage or charge.

Refer to SD31

A transfer involving:

  • an Aboriginal Association or corporation
  • the NSW/Local Aboriginal Land Council.

Refer to Legal through the Senior Examining Officer

A transfer:

  • by a chargee pursuant to the Bankruptcy Act 1966 or the Social Security Act 1991.
  • where a caveat, except for an unqualified caveat claiming an estate or interest pursuant to an unregistered mortgage, is noted on the Register.  Note A caveat claiming an estate or interest pursuant to an unregistered charge must be referred to Legal. 
  • where the consideration is nominal or other than cash.
  • where the mortgagee is shown as the registered proprietor and the mortgagor is protected by a Registrar General's caveat.
  • where the transferor and transferee are not at arm's length.

Registration procedure

CODE (name)    P, C or Q  [name of transferee]

TENANCY    S, J2 etc, T etc.

To cancel the subject mortgage or charge

NOTFN BRT FORWARD    select charge to be removed

NOTFN TB REMOVED    click arrow button to remove selected notification.

Where the mortgage or charge is coded AA etc

PRIME CODE    code of charge being cancelled as shown on the Register

PRIME NO.    number of charge