Variation of term transfer

From W-07VT (PDF 344 KB)

Dealing type - VT

Legislation - s71N (6) and (7A) Water Management Act 2000

(A) Stamp duty - Not required.

WAL Certificate - Required.

Caveat noted on the WAL Folio - If specifically prohibited, refer to the Senior Examining Officer for service of notice on the caveator. 

The term of a term transfer may only be reduced or extended.

Written consent

The written consent of a mortgagee or chargee is required where a mortgage or charge is noted on the WAL folio. Production of the WAL certificate by the mortgagee or chargee to allow registration of the dealing is acceptable in lieu of written consent. See s71L Water Management Act 2000.

(E) The number of the WAL affected by the variation of term transfer must be stated.

(F) The tenure type of the WAL must be stated and agree with the tenure type shown on the WAL folio, i.e. Continuing, Specific Purpose or Supplementary.

(G) The full name of the term transferor must be stated and must be identical to the name of the registered holder as shown on the WAL folio. The ACN or ARBN of a company etc must be stated.

(H) The full name of the term transferee must be stated and must be identical to the name of the term transferee as shown on the WAL folio. The ACN or ARBN of a company etc must be stated.

(I) The registered number of the term transfer being varied must be stated.

(J) The reduced/extended term and the termination date must be stated.

Note  The WAL or the parties to the term transfer cannot be altered by a Variation of Term Transfer form W-07VT.

(K) The term transfer must be executed by the term transferor and be witnessed, or be executed on their behalf by the following:

  • attorney and witnessed
  • authorised officer and witnessed
  • solicitor or barrister.

Note  A licensed conveyancer cannot execute on behalf of the term transferor.

The term transfer must be executed by the term transferee and be witnessed, or be executed on their behalf by the following:

  • attorney and witnessed
  • authorised officer and witnessed.

Note  A solicitor, barrister or licensed conveyancer cannot execute on behalf of the term transferee.

See execution requirements for companies, witnesses etc pages.  Note Requirements are the same as for Real Property Act dealings except where otherwise stated.

Staff processing information

Refer to SD6.

SD6 - Registration procedure

PRIME CODE    code of term transfer being varied as shown on the WAL folio

PRIME NO.    number of term transfer

SUB CODE    UWTTV

DETAILS    Expiry Date Now ...