Effect of registration
51 Effect of registration
On registration of a tier 1 scheme —
the title to the parcel of land that existed immediately before registration of the scheme ceases to exist; and
a tier 1 parcel is created.
On registration of a tier 2 scheme —
the community title to the tier 1 lot subdivided by the tier 2 scheme that existed immediately before registration of the scheme ceases to exist; and
a tier 2 parcel is created.
On registration of a tier 3 scheme —
the community title to the tier 2 lot subdivided by the tier 3 scheme that existed immediately before registration of the scheme ceases to exist; and
a tier 3 parcel is created.
A tier parcel cannot be dealt with (including by registration of a mortgage) or disposed of as such under the Transfer of Land Act 1893.
If a title ceases to exist, the certificate of title must be cancelled under the Transfer of Land Act 1893.
On registration of a community titles scheme or an amendment of a community titles scheme to give effect to a subdivision of land —
the relevant lots are created, cease to exist or are varied as required by the subdivision; and
the relevant common property (if any) comes into existence, ceases to exist or is varied as required by the subdivision.
A scheme document, or an amendment of a scheme document, has effect from when it is registered or recorded by the Registrar of Titles.
This Act’s bill:Explanatory memorandumSecond reading speech
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