Term transfer

Form  W-07TT (PDF 352 KB)

Dealing type - TT

Legislation - s71N Water Management Act 2000

Stamp duty - Not required.

WAL Certificate - Required.

Additional Information to be Provided page to be completed (see below).

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

A term transfer enables the registered holder of a WAL to transfer their water entitlements to a term transferee for a specified period of not less than 6 months.

Note  Changes to the WAL details, eg the share component or the nominated works, must be referred to DPI Water. Application forms are available from DPI Water website www.water.nsw.gov.au

Less than all of the registered holders may be a party to a term transfer of a WAL providing the registered holder holds as a tenant in common. See s71N(10), (11) Water Management Act 2000.

A term transfer by a registered holder may affect part of a WAL in terms of the water allocation providing a Notification form W-19WA subdividing the WAL is lodged before or accompanies the term transfer. For information on subdivision etc, contact DPI Water.

Reference to trusts, or to the capacity of trustees, executors or administrators is not acceptable on a term transfer, except for private water trusts, and will not be shown on the WAL title.

Note

  • a term transferee cannot transfer their interest in the WAL. The term transfer must be surrendered and a new term transfer by the registered holder of the WAL must be lodged.
  • a term transfer must not contain any reference to an option to purchase or to renew.
  • a term transferee cannot mortgage or charge their interest in the WAL.
  • a term transfer cannot be registered on a WAL held by a local water utility or major water utility, see s71N(1) Water Management Act 2000.

Written consent

The consent of the Minister for Department of Water and Energy is required for a term transfer where a notification in the Encumbrances of the WAL folio states that the Minister's consent is required. The application number and date of expiry of the consent obtained from DPI Water must be stated on the term transfer or in an attached letter.  The term transfer must be lodged within 6 months of the date of issue of the consent.  See s71L and s71N(4) Water Management Act 2000.

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 temporary transfer must be stated.

Where the term transfer affects part of the WAL in terms of the water allocation, the part must be adequately described together with any other changes to the WAL that may occur as a result of the registration of the associated Notification form W-19WA, e.g. 'WAL12345 part being 50 unit shares with nominated works at ...'.

(F) The tenure type of the WAL must be stated and agree with the tenure type shown on the WAL folio, ie 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.

local water utility or major water utility,  can not grant a term transfer of a WAL, see s71N(1) Water Management Act 2000.

Note  Where less than all of the registered holders are a party to a term transfer those registered holders must hold as tenants in common.

(H) The full name of the term transferee must be stated. The ACN or ARBN of a company etc must be stated.

A term transfer to a statutory authority that is not a State owned corporation must be drawn in the name of Her Majesty Queen Elizabeth the Second on behalf of the responsible Minister. The term transfer will be registered to show 'Her Majesty Queen Elizabeth the Second ([name of the relevant department or authority])', e.g. 'Her Majesty Queen Elizabeth the Second (State Rail Authority)'.

(I) Tenancy must be stated where there is more than one term transferee. If tenants in common, the shares held must be stated. Reference to the tenancy/shares will not be entered on the WAL folio.

(J) The consideration is optional.

(K) The term must be stated and agree with the commencing and terminating dates. The term must be for a period of not less than 6 months.

The commencing and terminating dates must be stated.

Note  A term transfer will not be registered where the expiry date has passed.

(L) The appropriate item must be specified and any deletions must be verified.

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.

Note  A solicitor, barrister or 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
  • solicitor or barrister.

Note  A 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.

"Additional Information To Be Provided"

Separate details must be provided for each licence in the transfer.

If the address details are the same for each licence, the first panel only must be completed and 'as above' entered in the following panels.

A consideration must be shown for each licence in the transfer. The total consideration for all the licences in the transfer must also be shown. If the consideration is other than an amount of money '0.00' must be entered.

A contact licence holder must be nominated for each licence. A contact licence holder is the licence holder to whom notices and other correspondence will be sent and who will receive invoices relating to the fees and water charges associated with the licence. Where there are multiple licence holders, one only must be nominated. Where the contact licence holder is a corporation its ABN, ACN or ARBN must be provided. The contact licence holder's daytime telephone number during must be provided. It will be used by the licence regulator or water delivery authority to seek any necessary clarification of information relating to the licence.

The form must be signed by or on behalf of the transferee(s) as on the transfer form itself. The signature(s) need not be witnessed.

If the space provided is insufficient additional sheets should be attached in the same format as this sheet.

Staff processing information

Refer all dealings to SD31 except for the following

Note  The term transfer will sever a joint tenancy where less than all of the joint tenants are a party to the transfer (see Transfer Unilaterally Severing Joint Tenancy W-01TJ for action to be taken as regards service of notice on the other joint tenant). Refer to the Senior Examining Officer for preparation of a Departmental Dealing to record the severance of joint tenancy.

Refer to SD6

For SD6 - Refer to the Senior Examining Officer
Where less than all of the joint tenants are a party to the term transfer.

For Senior Examining Officer - Notice of the severance must be served on the other joint tenant. A Departmental Dealing must be prepared and registered to change the tenancy of the registered holders to tenants in common in shares comparable to the interest held as a joint tenant.

For SD6 - Refer to Legal through the Senior Examining Officer

A term transfer:

  • by the registered holder's attorney for a nominal sum or no consideration.
  • to the registered holder's attorney.
  • in favour of a company in liquidation.

SD6 - Registration procedure

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

If less than all holders, insert “as regards the share of” [name of term transferee]

EXPIRY DATE    [date].

COMMENCE DATE    [date].

Processing Additional Information to be Provided form

CODE        WCON

DETAILS    [Consideration for each WAL shown separately as on Additional information to be provided sheet.]

CODE        WADDR

DETAILS    [Contact licence holders details for each WAL as shown on Additional information to be provided sheet.]