Trusts

Dealings by trustees

Fiduciary relationships are not to be shown on the Water Access Licence Register. Reference to trustees, executors or administrators is only acceptable in the following WAL dealings:

  • a Transmission Application,
  • a Bankruptcy Application, or
  • an application pursuant to s12 Trustee Act 1925, or
  • an Order of Court.

All other WAL dealing forms must not include any reference to a party being a trustee, executor or administrator.

A WAL dealing that can contain reference to a fiduciary relationship will be registered in the name of the trustee, executor or administrator only. No mention is made of the trust etc or the beneficiary of the trust etc in the notification. For example, if X holds share outright and acquires the other share in trust for Y, X only is shown on the Register and once only. A request to show 'X and X as tenants in common in equal shares' etc is not acceptable.

Companies etc that include the word(s) 'Trust', 'Trustee(s)' or 'Fund' within their name will be registered as drawn providing the word is part of the company's name. For example, 'X and Y Trust Fund Limited' is acceptable. 'X and Y Limited Trust Fund' is not acceptable and the WAL dealing should be drawn in the names of the trustees of the fund only.

Religious bodies that include the word 'Trust' or 'Trustee(s)' in their name will be registered as drawn.

A minor cannot be appointed as a trustee.

Generally, see Baalman And Wells, Land Titles Office Practice, Lawbook Co. 2001 [170.150, 170.550] (the practice related to Water Access Licence dealings is similar to Real Property Act dealings).

For WAL dealings by trustees of:

  • a bankrupt, see Baalman And Wells, Land Titles Office Practice, Lawbook Co. 2001 [30.800]
  • church property, see Baalman And Wells, Land Titles Office Practice, Lawbook Co. 2001 [171.100]
  • friendly societies
  • unincorporated clubs, lodges etc, see Baalman And Wells, Land Titles Office Practice, Lawbook Co. 2001 [170.850].

For private water trusts.

See vesting, appointment and retirement of trustees as regards a WAL page.

Staff processing information

Trustees normally apply as joint tenants; refer a WAL dealing claiming as tenants in common to Legal through the Senior Examining Officer

Declaration of trust

A copy of an instrument declaring a trust may be deposited for safe custody and reference. The copy of the original instrument must:

  • be marked by Revenue NSW and
  • be certified by a prescribed functionary.

The WAL certificate is required.

A Registrar General's caveat form W-08RX is prepared and registered by LPI. The reference to title for the WAL affected by the declaration of trust, the number and date of the declaration, and the lodging party details are required to complete the Registrar General's caveat. The prescribed lodgment fee is payable. The certified copy of the instrument of trust is attached to the Registrar General's caveat.

See Baalman And Wells, Land Titles Office Practice, Lawbook Co. 2001 [170.150, 170.800] (the practice related to Water Access Licence dealings is similar to Real Property Act dealings).

Removal of declaration of trust

A Registrar General's caveat noted on the title protecting a declared trust may be removed by lodgment of a Request form. The WAL certificate of title is required.

Staff processing information

Refer to SD6

For SD6

Refer to Legal through the Senior Examining Officer.