PRESENTATION OF INSTRUMENTSPriority RulesWith the introduction of electronic registration, it was necessary to examine how priority would operate between electronic and paper instruments. Electronic instruments will be registered almost instantaneously, unless there is a pending dealing in the system affecting the same land or there is some kind of stop on the title (eg caveat). Landonline will notify the submitting party if any of those things occur. A new section 47 has been inserted to deal with the priority between
paper instruments and to enable a lodging party to ensure an urgent document
can be logged in Landonline
to prevent an electronic instrument taking priority. Paper instruments may be lodged in one of three ways:
Instruments lodged by post or by drop box have priority assigned as at 9.00am the business day after they were deposited. This is the same rule as presently applies for postal lodgement. All instruments received the day before will be logged as pending dealings before any electronic registration is accepted on that day. To ensure urgent instruments can receive priority, it will be possible
to lodge instruments at the counter and have priority assigned on the
spot. This service will attract a higher fee than postal or drop box lodgement.
An extra $20 per instrument will be required in order to have priority
assigned in this manner. |