O the holder of those interests is the registered

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o The holder of those interests is the registered proprietor (generally fee simple, can be the holder of another interests). o The register must deliver a CoT to the person entitled – s27(b) (6)and(7). o S27(a) an instrument being capable under the TLA will be registered be making or altering recordings in the register by the registrar. o The CoT is a written document containing information about a piece of registered land. Often referred to as the title deed. Simply referred to as the CoT. The CoT must be given if you wish to register a transfer. o The register is conclusive. What can we register? o Transfer document/ memorandum of transfer (s45). o Doc that creates mortgage. o Doc that discharges mortgage (s74). o Doc that creates an easement (s72). o Lease for more than 3 years (s66). o Subleases 3 years plus (s62) o Profit a prendre is arguable. o These documents must be withing the prescribed form or it will not be accepted. Every registered document will be recorded on the folio and on the CoT. S40 of the TLA – provides that no instrument until registered shall be effectual to create, vary or extinguish any interest in any land. [Sterility provision – a 21
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legal estate must be registered, also suggests that unregistered interests in land cannot exist under the Torrens System]. Other provisions allow for unregistered interests – Caveats – notification on the register. S40 is referring only to legal interests. S40(2) when registered the interest has the same efficacy as if it is under seal. S34 deals with the priority between 2 registered interests. Affecting the same interest or estate in the land (i.e. both deal with mortgage). Priority is determined by the date of lodgement. Some unregistered interests are legal in nature (i.e. adverse possession). But registered interests generally equated with legal interests. Electronic Conveyencing Vendor’s mortagagee bank received the bank cheque. Vendor’s mortgagee will hand the CoT to the purchaser/their bank. Documents must be lodged. Under the electronic system lodgement and registration will occur almost immediately. Vic is the most advanced down the electronic path. Legislation in Vic has been changed to accommodate for the electronic system. K of Sale will be done on paper. The EC (electronic conveyencing) system kicks in after the contractual stage. Everything that needs to be done will be done electronically. Under the Vic project solicitors and conveyencer’s and banks would be permitted to access it. Under the Vic proposal that created an ELF (online shared file) – both vendor and purchaser put their data into that file. Agree on a settlement in the file. Electronic bank transfers will occur at settlement. Were proposing to keep the paper system running parallel to the electronic system.
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