The writ took priority because it was recorded before

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Unformatted text preview: the register two hours before settlement of the sale, take priority over the registration of the transfer of sale? DECISION: The High Court held that an injunction granted by the Court of Appeal, restraining the execution of the writ, was inconsistent with the statutory scheme in the NSW Real Property Act and the system of title registration that the Act created. The writ took priority because it was recorded before the attempted registration of the sale to the purchasers and it was irrelevant that the actual date on which the contracts were exchanged preceded the issue of the writ. COMMENT: A purchaser will be subject to a competing interest if it is registered between the time that the purchaser inspected the register and the time of lodgement of the notice of transfer. The purchaser should therefore carry out a final search of the register immediately prior to settlement and arrange for lodgement of the transfer as soon as possible after the settlement. Exceptions to indefeasibility of title Fraud If th...
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This document was uploaded on 04/23/2012.

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