Registering Property in Australia

This topic examines the steps, time, and cost involved in registering property in Australia.

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Standardized property

Property Value: AUD 2,526,121
City: Sydney

Registration Requirements Summary:


  Procedure Time to complete: Cost to complete:
*1 File for a title search certificate, deposited plans, easements and covenants recorded on the title from the Land and Property Information Department 1 day (immediately online, 30 minutes over the counter) (simultaneous with procedures 2 and 3) AUD 10.75 per item (online) x 5 items
*2 File for a zoning certificate from the Municipal Council 2 days (about 7 days to return by post) (simultaneous with procedures 1 and 3) AUD 100
*3 File for a drainage diagram from the local water authority 1 day (can be done online, then wait 7 days for return by post) (simultaneous with procedures 1 and 2) AUD 22.1 (includes service fee)
4 Stamp contract with ad valorem stamp duty (i.e. according to value) at the Office of State Revenue 1 day (over the counter) AUD 124,447
5 Notice of Sale, Transfer of Land form and Certificate of Title are lodged with Land and Property Information by the buyer 1 day—minutes face to face, up to 2 days bulk lodgment AUD 184
* Takes place simultaneously with another procedure.

Registration Requirement Details

Procedure 1.
File for a title search certificate, deposited plans, easements and covenants recorded on the title from the Land and Property Information Department
Time to complete:
1 day (immediately online, 30 minutes over the counter) (simultaneous with procedures 2 and 3)
Cost to complete:
AUD 10.75 per item (online) x 5 items
Name of Agency:
Land and Property Information Division of the Department of Lands (NSW)
Comment:
The seller is responsible for obtaining a title search, plans ( known as Deposited Plans), easements and covenants recorded on title from the Land and Property Information department, according to by law, the Conveyancing Act 1919 and the Conveyancing (Sale of Land) Regulation 2005. These documents must be attached to the sale contract (prescribed documents); failure to do so may entitle the purchaser to rescind the contract.
LPI's circular 2008/05 increased fees from July 1st 2008 for over the counter services to $12.75 for most documents.

Procedure 2.
File for a zoning certificate from the Municipal Council
Time to complete:
2 days (about 7 days to return by post) (simultaneous with procedures 1 and 3)
Cost to complete:
AUD 100
Name of Agency:
Municipal Council
Comment:
The seller is responsible for obtaining a Zoning Certificate from the Municipal Council. This document must be attached to the Contract for Sale (prescribed documents). A Building Certificate can also be obtained from the Municipal Council, but it is not mandatory. Certain municipal councils now process applications through the internet and deliver Zoning Certificates electronically.
Procedure 3.
File for a drainage diagram from the local water authority
Time to complete:
1 day (can be done online, then wait 7 days for return by post) (simultaneous with procedures 1 and 2)
Cost to complete:
AUD 22.1 (includes service fee)
Name of Agency:
Local water authority
Comment:
The seller is responsible for obtaining a Drainage Diagram from the water authority. This document must be attached to the contract for sale (prescribed documents).
Procedure 4.
Stamp contract with ad valorem stamp duty (i.e. according to value) at the Office of State Revenue
Time to complete:
1 day (over the counter)
Cost to complete:
Stamp duty, according to the following schedule of tariffs :
Value of property + GST (in AUD) Stamp Duty (in AUD)
Below $14,000 1.25% of dutiable value
$14,001 - $30,000
Name of Agency:
State Revenue office
Comment:
If there are no outstanding interests in the property, then the solicitor for the buyer prepares a Transfer form (obtained from the Department or available online) for execution by the seller.
The transfer may also be completed by the buyer. The Transfer form (and others) are available in a PDF format on the LPI website at:
http://lpi-online.lpi.nsw.gov.au/e-rpforms/index.html
The forms are interactive with popup notes to assist with their completion.
The contract is sent to the Office of State Revenue and stamp duty is paid (by purchaser).
If stamping of the Contract does not occur within 3 months of exchange penalty duty is payable on the amount of stamp duty payable at the rate of 15.75% per annum.

The rate of Duty is "$40,490 plus $5.50 for every $100 in property value exceeding $1,000,000".

Transfers also incur Fixed Stamp Duty costs totaling $20: $10 each for the stamping of the Real Property Transfer (counterpart contract and Transfer of Land form)


Procedure 5.
Notice of Sale, Transfer of Land form and Certificate of Title are lodged with Land and Property Information by the buyer
Time to complete:
1 day—minutes face to face, up to 2 days bulk lodgment
Cost to complete:
AUD 184
Name of Agency:
Land and Property Information Division of the Department of Lands (NSW)
Comment:
The Transfer of Land form and Certificate of Title (owner’s copy) are then sent to the Land and Property Information Department for registration. The ad valorem corresponds to $40,490 plus $5.50 for every $100, or part, by which the dutiable value exceeds $1,000,000.