DOCSLIB.ORG

Property Law

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Property Law PROPERTY LAW Chapter 16 Property Law Australia has a large body of law regulating real estate. This chapter contains a brief overview of: the different types of land ownership in Australia; other interests in land (which do not amount to full ownership) and rights in respect of land which are recognised by Australian law; the requirements which must be met under Australian law before real estate located in Australia can be sold or leased or otherwise dealt with; and the more significant responsibilities and liabilities imposed on people who own land in Australia. You should seek specific legal advice in relation to each of these issues before you acquire or develop any real estate in Australia. Land ownership Australian law recognises the following two basic different types of land ownership: freehold title; and Crown land. Each of the states and territories has its own legislation that deals with the ownership of land. Freehold title Freehold title gives the landowner complete and unrestricted ownership of that land (but subject to certain rights which are often reserved to the relevant state or territory, such as the right to minerals) and the right to do anything it wishes on that land, subject to complying with applicable laws, such as planning and environmental laws. The majority of ownership of freehold title, and interests in freehold title, in Australia is governed by a system of registration known as Torrens title. Torrens title Torrens title is an effective, relatively simple and secure system that protects the rights of those having a registered interest in land. Most types of interests in land can be registered on the relevant state or territory register which is then used as the key means for the public to find out what interests exist in relation to a parcel of land (and the terms of any such interests, such as the terms of a registered lease). However, some freehold land in Australia has not yet been converted to Torrens title and is still governed by what is called 'old system' title. This type of land is relatively rare and mostly located in New South Wales. Old system title is not as simple to deal with as Torrens title but it still provides the owner with secure title. The title to freehold land can be subdivided in various ways. Two examples are strata title and community title. Both strata title and community title are regulated by statute. Strata title and community title Strata title is most commonly used for multi-level buildings, for example, residential apartments. Strata title enables a person to own part of a building (commonly referred to as a lot or unit) and to use the common areas of the building (such as foyers, pools and lifts) in common with the other lot or unit owners of the building. Community title is most commonly used for land subdivisions, such as housing estates. It can also be used in relation to apartment buildings. Community title enables a person to own an area of land forming part of an estate and to use the common areas of the estate (such as private roads and parks) in common with other persons who own the other land in the estate. The legislation governing strata title and community title subdivisions establishes a body corporate which oversees the common areas and shared facilities and which has the power to make rules which regulate the way people can use property and shared facilities within the building or estate. The owners of land in a strata title or community title subdivision collectively control the body corporate. Crown land The Australian Government and the state and territory governments own certain land in Australia. Not all government-owned land has been converted to freehold title and what remains is known as Crown land. Crown land is regulated by statute and certain specific requirements must be met before Crown land can be dealt with, for example, by being leased or sold. Interests in and rights in respect of land Australian law recognises a number of different types of interests in and rights to land which do not amount to full ownership of the land including: leases; mortgages; easements and restrictive covenants; native title; and licences. Leases A landowner can lease the land or part of it to another person on terms to be agreed by the parties. A lease gives the person to whom it is granted an interest in the land and a right to exclusively occupy the area leased subject to the terms of the lease. Certain types of lease of Torrens title land are required to be registered under the Torrens title system in some, but not all, states and territories, in order to protect the interest in the lease against the claims of third parties (for example, a mortgagee who wishes to sell the land as vacant land). In Victoria, leases are generally not able to be registered. Mortgages When a landowner borrows money the lender may require that the landowner grant to the lender security over land. This security is known as a mortgage and it generally entitles the lender to sell the land if the borrower does not repay the money borrowed as agreed between the parties. Mortgages of Torrens title land are registered under the Torrens title system. The owner of a leasehold interest in land can also use its leasehold interest as security for borrowed money, subject to the terms of the lease. If the borrower does not repay the money borrowed as agreed between the parties, the mortgage of a leasehold interest gives the lender the right to sell the leasehold interest in the land. Mortgages of leases of Torrens title land are registered under the Torrens title system. Easements and restrictive covenants A landowner can grant rights over its land, in favour of the owner from time to time of other land, for example, a right to travel over the land or to lay pipes through the land. These rights are referred to as easements. A landowner can also restrict the use of its land, in favour of the owner for the time being of other land, for example, agreeing to not use their land for noxious or offensive purposes. These restrictions are referred to as restrictive covenants. Both easements and restrictive covenants: benefit or restrict the land rather than the landowner who granted the easement or restrictive covenant or the landowner who obtained the benefit of it; and where they affect Torrens title land, are registered under the Torrens title system in some, but not all, states and territories. In general, where easements and restrictive covenants are not registered under the Torrens title system, they will not be binding on future owners unless the future owners have agreed by contract to be bound by them. Some government bodies and authorities can also obtain easements or place restrictive covenants over land, for example, to lay electricity cables. These easements and restrictions are referred to as easements in gross. Easements in gross do not attach to or benefit land owned by the government body or authority but instead are granted directly to the government body or authority. Like easements and restrictive covenants granted between landowners, easements in gross are registered under the Torrens title system where they affect Torrens title land. Native title Native title is the term for the interests in land held by Aboriginal or Torres Strait Islanders (Australia’s Indigenous people) under their customary law as recognised by the law of Australia. Native title is different from a freehold or leasehold interest in that: the rights derive from traditional laws and customs acknowledged and observed by Indigenous Australians; they do not derive from statute; and native title rights and interests must relate to either or both of land or waters. They may be communal, group or individual, but are not transferable. Refer to section 19.4 in Chapter 19 of this publication, 'Natural Resources', for further information on native title and Indigenous cultural heritage law. Licences A landowner (and, subject to the terms of the particular lease, a person who leases land) can grant a licence to occupy that land to other persons. A licence gives the person to whom it is granted a non-exclusive right to occupy the land subject to the terms of the licence. Licences do not give the licence holder an interest in the land and cannot be registered under the Torrens title system. A licence is a personal contract between the landowner (or the lessee) and the person to whom the licence is granted. Dealing with land in Australia There are certain legal requirements which must be met before land located in Australia can be dealt with (for example, purchased or leased). The more significant of these requirements are as follows: agreements which deal with land (that is, sell, lease or mortgage land) in Australia must be made in writing in order to be effective; documents which need to be lodged with the Torrens title system registry offices to transfer any type of interest in land to a purchaser must be in the prescribed form and executed in accordance with the registry requirements for the relevant state. Registry offices in Australia are moving to electronic lodgement of documents and vary between the states. It is also ordinarily a requirement that a lawyer verify the identity of signatories who sign prescribed forms. Again the practice varies between the states; in some states and territories certain documents dealing with land are required to be stamped by a government office in order to be effective. The government office charges a fee or transfer tax, usually calculated by reference to the money paid under the dealing, before it will stamp the document.
Load more

Recommended publications
  • Launch of "Strata Title Property Rights– Private Governance of Multi
    Launch of “Strata Title Property Rights – Private governance of multi-owned properties” by Cathy Sherry University of New South Wales 2 August 2017 Mark Leeming1 Everyone is interested in architecture. Perhaps the best illustration of this is the runaway success of Kevin McCloud’s “Grand Designs” televison shows. Putting to one side the allure of McCloud himself, that success is in part a testament to the basic urge to build one’s own home, something which is never going to happen for the overwhelming majority of Australians. And even for those who merely end up owning their own home, increasingly that home will be a lot within a strata scheme or community title. There have been more than 1 million people living in Sydney in such schemes since 2011, and both the number and the proportion are only going to increase. Walking to this launch from the closest railway station this evening well illustrates the phenomenon. I passed a very rare single storey sandstone 19th century terrace a couple of minutes from Green Square, next to rows of late Victorian and early twentieth century two storey terraces. But then there were blocks of modern high density towers, before, after passing under Southern Cross Drive, one sees examples of the very worst of the 1960s and 70s three storey walk-ups, products of the legislation the subject of this book. One of the things which the photographs in this delightful book (yes, photographs in a law book!) convey is the changing architecture of flats and apartments, connected with legislative changes. There is, in the case of planning law and laws governing communal living, a very close link between the legislative regime and the lived-in character of the urban environment.
    [Show full text]
  • THE Definitive PRIME RESIDENTIAL Briefing THE
    A GLOBAL PERSPECTIVE ON PRIME RESIDENTIAL PROPERTY AND WEALTH THE DEfINITIVE PRIME RESIDENTIAL BRIEfING new HIGH fOR CONTEMPORARY ART THE WORLD’S MOST INfLuENTIAL CITIES ASIA PACIfIC PRIME REAL ESTATE OuTLOOk fOCuS ON PROPERTY MARkET INVESTMENT WHERE THE WEALTHY ARE INVESTING KNIGHT FRANK TERMS AND DEFINITIONS HNWI is an acronym for 'high-net-worth individual’, a person whose investible assets, excluding their principal residence, total between $1m and $10m. An UHNWI (ultra-high-net-worth individual) is a person whose investible assets, excluding their primary residence, are valued at between $10m and $100m-plus. The term ‘prime property’ equates to the most desirable, and normally most expensive, property in a defined location. Commonly, but not exclusively, prime property markets are areas where demand has a significant international bias. Exchange rates: unless otherwise stated these were calculated using the rate on Feb 1 2010. The Wealth Report 2010 Attitudes Survey: the participants of the survey comprised clients of Citi Private Bank. Survey conducted between 1 December 2009 and 31 January 2010. CONTRIBUTORS Prime, prestige, luxury – all labels applied to the top end of the residential property Written and edited by Andrew Shirley and Liam Bailey, Knight Frank LLP. For research and press enquiries: Liam Bailey, Knight Frank LLP, market in different parts of the world. 55 Baker Street, London W1U 8AN +44 (0)20 7861 5133 ANDREW SHIRLEY Andrew, when not editing While the names may differ, the desire of High¯Net¯Worth Individuals to own The Wealth Report 2010, is head of and invest in the best property is ubiquitous around the globe.
    [Show full text]
  • Extension of the Torrens System Into Hawaii, the Philippine Islands and Latin-American Jurisdictions R.G
    University of Minnesota Law School Scholarship Repository Minnesota Law Review 1952 Extension of the Torrens System into Hawaii, the Philippine Islands and Latin-American Jurisdictions R.G. Patton Follow this and additional works at: https://scholarship.law.umn.edu/mlr Part of the Law Commons Recommended Citation Patton, R.G., "Extension of the Torrens System into Hawaii, the Philippine Islands and Latin-American Jurisdictions" (1952). Minnesota Law Review. 2108. https://scholarship.law.umn.edu/mlr/2108 This Article is brought to you for free and open access by the University of Minnesota Law School. It has been accepted for inclusion in Minnesota Law Review collection by an authorized administrator of the Scholarship Repository. For more information, please contact [email protected]. EXTENSION OF THE TORRENS SYSTEM INTO HAWAII, THE PHILIPPINE ISLANDS AND LATIN-AMERICAN JURISDICTIONS* By R. G. PATTON** N PRIMITIVE society ownership was always predicated upon possession and to a very large extent that is the case in the most advanced civilizations. If you purchase an article of clothing or jewelry, you and the retailer from whom you make your purchase probably merely exchange two items of property, you giving him a sum of money and he giving you the article purchased. Neither of you inquire into the title of the other and, except in the case of stolen property, the title is unassailable. Practically the same system prevailed in England in respect to land at the time of the settlement of the American colonies, and to a large extent, since then. Since a tract of land was not of such character that it could be picked up by the vendor and handed to his purchaser he did the next best thing by handing to the latter a symbol of the land, such as a twig or a clod of earth, with appropriate words showing his purpose in doing so.
    [Show full text]
  • Torrens Title in North Carolina - Maybe a Hundred Years Is Long Enough John V
    Campbell Law Review Volume 39 Article 3 Issue 2 Spring 2017 2017 Torrens Title in North Carolina - Maybe a Hundred Years Is Long Enough John V. Orth Follow this and additional works at: http://scholarship.law.campbell.edu/clr Recommended Citation John V. Orth, Torrens Title in North Carolina - Maybe a Hundred Years Is Long Enough, 39 Campbell L. Rev. 271 (2017). This Article is brought to you for free and open access by Scholarly Repository @ Campbell University School of Law. It has been accepted for inclusion in Campbell Law Review by an authorized editor of Scholarly Repository @ Campbell University School of Law. Orth: Torrens Title in North Carolina - Maybe a Hundred Years Is Long E Torrens Title in North Carolina-Maybe a Hundred Years Is Long Enough JOHN V. ORTH* For over a century, North Carolina property owners have been offered an alternative to the traditionaldeed and recordingsystem. Title to land may instead be entered in the Torrens system of registered titles. Under the Torrens system, the court determines the state of the title and issues a certificate, which is held in the registry with a copy given to the registered owner. The certificate provides conclusive evidence of ownership and of any liens or encumbrances on the property. Unlike titles evidenced by deeds, Torrens titles are not subject to loss by adverse possession, and transfer of a Torrens title is a simple process of changing the certificate in the registry and issuing a new certificate. A darling of Progressive law reformers in the late nineteenth and early twentieth centuries, nineteen states eventually adopted the Torrens system, although many later had second thoughts and abandonedthe system.
    [Show full text]
  • Usufruct Study Guide
    Article 562 ± 578 1. Define usufruct. Usufruct is a real right by virtue of which a person is given the right to enjoy the property of another with the obligation of preserving its form and substance, unless the title constituting it or the law provides otherwise. 2. What are the three fundamental Rights Appertaining to Ownership? Ownership consists of three fundamental rights, to wit: - jus disponende (right to dispose) - jus utendi (right to use) - jus fruendi (right to the fruits) 3. Of the above-mentioned fundamental rights, what consists usufruct and naked ownership? The combination of the jus utendi and jus fruendi is called usufruct. The remaining right jus disponendi is really the essence of what is termed ³naked ownership´. 4. What right is transferred to the usufructuary and what right is remained with the owner? In a usufruct, only the jus utendi and jus fruendi over the property is transferred to the usufructuary. The owner of the property maintains the jus disponendi or the power to alienate, encumber, transform, and even destroy the same. (Hemedes vs. CA, 316 SCRA 347 1999). 5. What are the formulae with respect to full ownership, usufruct, and naked ownership? The following are the formulae: - Full Ownership equals Naked Ownership plus Usufruct - Naked Ownership equals Full Ownership minus Usufruct - Usufruct equals Full Ownership minus Naked Ownership 6. What are the characteristics or elements of usufruct? The following are the characteristics or elements of usufruct: ESSENTIAL CHARACTERISTICS: those without which it can not be termed usufruct: (a) It is REAL RIGHT (whether registered in the Registry of Property or not).
    [Show full text]
  • Non-Residential Condominium Valuations
    Professional Excellence Bulletin [PP-16-E] September 1995 Revised January 2007 Non-Residential Condominium Valuations In a number of marketplaces across the country, condominium – or strata title (the terms are synonymous) subdivided developments are becoming commonplace. These projects are marketed on the basis that businesses can own the space within which they operate, as well as to individual investors on the basis that this ownership interest can be acquired in commercial or industrial properties at price levels below those possible in conventionally subdivided free- standing investment properties. One also sees bareland strata subdivisions develop from time to time, wherein individual lot owners acquire an interest in common property, like an improvement, lying outside their lot boundaries. Bareland strata provides a fee simple ownership mechanism, yet offers substantial advantages over the alternative non-fee simple mechanisms to retain control of these offsite improvements, such as cooperative or corporate share arrangements. Much as on-going exposure to residential condominium properties has led to a significant body of knowledge within the appraisal community for the valuation of these assets, the passage of time has brought about a greater awareness of the pitfalls inherent in non-residential strata properties, some of which entail potential litigation risk for appraisers. Strata title commercial/industrial properties offer the advantages of ownership in smaller properties than could be achieved for stand-alone buildings; maybe the only way to secure tenure in a specific location, and offer reduced management burden for such things as building and grounds maintenance. However, individual unit owners have less control over both day-to-day operations, and eventual re-development.
    [Show full text]
  • Guarantees of Title
    Guarantees of Title Ownership of land consists of: 1. A good written title with the right of possession. 2. Possession with the right to acquire written title as a result of a lawful, unwritten conveyance. Because most laymen are incapable of determining when written title defects exist or when others have lawful title rights arising from possession, a need has arisen for experts willing to guarantee titles to be free of defects. The professional surveyor certifies to land location and status of encroachments; he does not issue a policy of location guarantee, but he is liable for failure to exercise due care. Title companies, attorneys, courts, or the state (Torrens titles), depending on the jurisdiction, guarantee written title adequacy, and, sometimes on request, they will guarantee location. How titles are guaranteed and who guarantees written titles are the subjects discussed in this Handout. Such discussion cannot be complete without mention of possession guarantee, since lawful occupancy can defeat paper title. A deed to land is never proof of ownership; it is evidence of ownership. Others may have rights against the land because of taxes, liens, mortgages, easements, judgments, bonds, improvement assessments, restrictions on zoning, and many other items. Because of the numerous hazards, new landowners demand ownership guarantee or at least a statement of ownership condition, along with a guarantee that no rights exist other than those stipulated. Exposures to written title defects are not visible and cannot be seen; the purchaser can see exposure to possession defects. The demand for title guarantee has been greater than the demand for possession guarantee.
    [Show full text]
  • C> the Conclusiveness of a Torrens
    OCTOBER, 192,, No. lOJ :,'\'.·''''"1!'' :mH!, ~e,,.": ..."'\: C\H~:?' ·+-ff!~++· EDITOR'S PAGE______ _______ _ --·--- ____ _Page 1 ")i:~ ,.,,~t'.:\m ~' . ~ _.w - :-- • ~ .. :',~\\ ·'"\!" .. ,\\)~.:'I AN ANNOUNCEMENT OF IM- :i1. •'\~;\.:'\I•\ ( .• ,{'\ ~ h PORTANCE__ ________________________________ __ __ __ __ _Page 2 :: ':-h·,.~ r.:-rtT!', .. -~ ~ .\H::; \\ ~ !'.:\~~ "THE CONCLUSIVENESS OF A 4+-cu ;\J:o:!'.' .. :: ' TORRENS CERTIFICATE OF ''~ TITLE" by Loring M . taples ______ __ _Page 3 --: ~·:..,? ?•\\1 '~· =~ .:f'r.:":~'\\' ...?"t..'Vl\ . -:· t.. \\:.· ... ;t'\\.:\\I L• ' ' E S C R 0 W S F 0 R T HE AB- STRACTER" by Walter M. Daly_ ___ ___ Page 8 ? ~i:u1~ ,":~H!'~ n ' · -..1\~'-i ll!'!' ... ~ 1..l\.11 "SUGGESTIONS FOR THE TRACT •'"' \~:.~:H.'~.' 21d· INDEX" by Earl W. j aekson __ ____________ Page 10 ~ ~· ~Y"'~"!'~ in\- ,,1.. 1: .:·.:i. .. ,~ .. H.~I i .. "ANOTHER REASON FOR TITLE INSURANCE" by McCune Gili___ ______ Page 13 •"'.I m'•"-""t .,f.R • ~~\. i~'.;. .,. 1,.. l• Io ; K?: " .. ,,, .. :'\t-~.- "''" RECENT COURT DECISIONS, T he ~-.: 'r Monthly Review___________________ ___________ __ ___ Page 15 -1\:\\'.... \1\q · ~ . ... ; . ·' -~ f'"T:::q,\.,,...... .:h: ~ f~r-.!" \1'\"'C*J:: ':''· \.rt\~ ::t.,'.\h, : ..~\H :,7 .:\ ~ ~S,H'•\ •• · ··~~·· ;~ ... ,.i,,~e,;.,,.:\~:4'". \1 . · "-----~- rt""~~~-~ \:,'t".~\:,_. ~ '"n1<>'-t~ . t.n;«11i ' ~ "'}.. - • """ i' - · . · - ..:;; .,. \ .,. ·· '"" ", • ' "'\I r \ t \ "'' ,\1 .. ('.'\.rt'"\ \t · .:-: -."\H" ••'"''.It m~ \.\ .:"'\\ f'n~ 1\\\ ';. .. ~'\\'¥ •o:\ ~•\\•' ..,• ""'f\ •• .,,!': .:',) 1--."t ·. l."!l m .. '' \\,,, \.;"..~ ;,:-, •'"'"-:- , .. ~ .. ~' ~' .\· ..• m ..··.•11. ,.,~\~.:-"~?-\\ t' \l'\ (\\\._\C.. '-~.: ::::""'m~ f·"~" ~""",:-"..,! ..'\".:-··.' ~ .. : ·.-h\1'1.:n.,.,...-:-;-.,..... .. '-'" . ._. •• ..- -­--· ••• NEW DESIGNS in Abstract Covers, Caption Sheets, ES LEE CK Index Sheets and Certificates Thin Papers We offer for your individ- ,. 1 ual use our: for .\nsTR.\l;T!!!TITlit: CAPTION SHEETS ··· - · ....... .. Lithographed or Steel Die Em­ file and permanent records, bossed.
    [Show full text]
  • Torrens Title Information and Search Guide March 2013 ISSN 2200-9701 Torrens Title Information and Search Guide
    Torrens title Information and Search Guide March 2013 ISSN 2200-9701 Torrens title Information and Search Guide Date of Publication March 2013 Copyright © March 2013 ISSN 2200-9701 Copyright in this document is held by Land and Property Information. Division 3 of the Commonwealth Copyright Act 1968 recognises that limited further use of this material can occur for the purposes of fair dealing – for example study, research or criticism. However, to make use of this material, other than as permitted by the Act, please write to Land and Property Information. Disclaimer Information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Advice from a professional adviser (e.g. a solicitor or licensed conveyancer, as appropriate) should be sought if there is doubt as to the applicability of this information to individual circumstances. Land and Property Information 1 Prince Albert Road Queens Square Sydney NSW 2000 T: 1300 052 637 T: + 61 2 9228 6666 www.lpi.nsw.gov.au This is one of five publications detailing searching and access to land titling records. The other titles in this series include: • First Stop Guide to the Records of the Registrar General • A Brief History of the Records of the Register General • Old System Information and Search Guide • Searching the Registrar General’s Maps and Plans Contents 1. Introduction ...........................................................................................4 2. Land title systems in New South Wales ......................................................5
    [Show full text]
  • Portugal Investor Guide 2019
    Portugal Investor Guide 2019 THE LEGAL PERSPECTIVE PORTUGAL INVESTOR GUIDE 2019 2 WWW.DLAPIPER.COM Contents INTRODUCTION 04 6.6 Assignments/transfers 12 1. OWNERSHIP OF REAL ESTATE 05 6.7 Subleases 12 6.8 Termination 12 1.1 Full ownership 05 6.9 Sale of leased property 12 1.2 Surface right, usufruct and right of use 05 7. TAX 13 1.3 Condominium 05 1.4 Restrictions on ownership by foreigners 05 7.1 Transfer Taxe, Stamp Duty 13 2. ACQUISITION OF OWNERSHIP 06 7.2 Value added Tax 13 7.3 Other Real Estate Taxes 13 2.1 Formal requirements 06 7.4 Taxation of rental income from 2.2 Registration 06 Real Estate 14 2.3 Asset deals 06 7.5 Taxation of dividends from a company 2.4 Share deals 07 owning Real Estate 15 2.5 Public auctions 07 7.6 Taxation of capital gains on Real Estate 16 3. OTHER RIGHTS TO PROPERTY 08 7.7 Taxation of capital gains from the disposal of shares Corporate Resident Entities 16 3.1 Mortgages and charges 08 7.8 Taxation of Capital Gains From the Disposal 3.2 Easements 08 of Shares by Non-Residents 16 3.3 Pre-emption rights 08 7.9 Real Estate Funds 17 3.4 Options 08 7.10 Portuguese Reits 18 3.5 Overage 08 8. REAL ESTATE FINANCE 20 4. ZONING AND PLANNING LAW PERMITS 09 8.1 Interest rate risks 20 5. ENVIRONMENTAL LIABILITY 10 8.2 Assets held as security 20 6. LEASES 11 8.3 Further collateral agreements 20 6.1 Duration 11 8.4 Taxation on the creation of security 20 6.2 Rent 11 CONTACT 21 6.3 Rent review 11 ABOUT DLA PIPER 22 6.4 Operating expenses 11 6.5 Maintenance, repair and reinstatement at end of lease 11 3 PORTUGAL INVESTOR GUIDE 2019 Introduction In recent years, Portugal has in turn enhanced the ability to inance The stability of the real estate market become an attractive market for real estate transactions.
    [Show full text]
  • Report 73: Unilateral Severance of a Joint Tenancy
    NSW Law Reform Commission: REPORT 73 (1994) - UNILATERAL SEVERANCE OF A JOINT TENANCY NSW Law Reform Commission REPORT 73 (1994) - UNILATERAL SEVERANCE OF A JOINT TENANCY Table of Contents Table of Contents....................................................................................................... 1 Terms of Reference and Participants......................................................................... 2 Executive Summary ................................................................................................... 4 Summary of Recommendations ................................................................................. 6 1. Introduction ............................................................................................................ 8 2. Background .......................................................................................................... 10 3. Existing Methods of Unilateral Severance............................................................ 14 4. Shortcomings of the Existing Modes of Effecting Unilateral Severance ............... 20 5. Why Should Unilateral Severance be Simplified? ................................................ 28 6. Reform in Other Jurisdictions ............................................................................... 32 7. Recommendation: Unilateral Severance by Registration of a Declaration of Severance ................................................................................................................ 35 8. Features of the System of Severance
    [Show full text]
  • V. SRINIVASULU the Torrens Title
    TORRENS TITLE SYSTEM – A U STR A LI A A N D OT H ER DEVELOPED NATIONS – A COMMON MAN UNDERSTANDING - V. SRINIVASULU The Torrens Title is a certificate of title for an interest in land. On this single certificate all transactions for the property land are registered; transfers, mortgages, leases and so on, with this registration guaranteed correct by the State. The Certificate of Title was formally prepared in duplicate; one remained with the Registrar General while the owner keeps the other. Since 1990 the register of the certificates of title has progressively been converted to a computerized record. The original Certificate of Title is held electronically and a paper Certificate of Title is provided to the owner as evidence of ownership. Today at the Lands Titles Office any would be buyer can check the title of the property. From computer searches and plans of the district one can trace the land which is of interest. At a glance of the certificate the particulars of the property are clear and the ownership certain, allowing the buyer to go ahead with complete confidence. Robert Richard Torrens is widely regarded as having conceived the idea of the Real Property Act. He first introduced his Bill to amend land titles to the State Parliament in May of 1857 and after much debate and opposition it came to the final vote in December. He then resigned his seat in parliament to become the first Registrar General to administer the new Act. Robert Richard Torrens also helped the introduction of the Torrens Title system to other Australian states and New Zealand.
    [Show full text]