Creating restrictive covenants in transfers and restrictions in plans
Land Use Victoria is consulting on proposed changes to creating restrictive covenants in transfers and restrictions in plans. It is proposed to include the changes in the next version of the Registrar’s requirements for paper conveyancing transactions and for the changes to take effect on 1 October 2017
Consultation paperThe Consultation paper was released on 2 December 2016.
Consultation on the Registrar of Titles’ proposal on how restrictive covenants and restrictions are created in transfers and plans (DOCX 121.5 KB).
Proposed Land Use Victoria fees regulations
Fees associated with the lodgement of property transactions and plans of subdivision and for searching the Titles Register have been reviewed. New fees regulations are proposed to commence on 1 July 2016.
A Regulatory Impact Statement (RIS) about the proposed regulations is now available. The closing date for comments is 16 November 2015.
- Regulatory Impact Statement (PDF 1.2 MB)
- Regulatory Impact Statement (DOCX 6.6 MB)
- VCEC letter (PDF 49.5 KB)
- Exposure Draft Transfer of Land (Fees) Regs 2015 (PDF 568.3 KB)
- Exposure Draft Subdivision (Registrar's Fees) Regs 2015 (PDF 545.5 KB)
Registrar's Requirements for Paper Conveyancing
Section 106A of the Transfer of Land Act 1958 provides that the Registrar of Titles may determine requirements for paper conveyancing transactions.
The Registrar determined Version 1 of the Registrar's Requirements for Paper Conveyancing on 29 September 2015 and published them on 30 September 2015.
- Registrar's Requirements Version 1 (PDF 258.6 KB)
- Registrar's Requirements Version 1 (DOCX 518.0 KB)
National electronic conveyancing – Operating Requirements and Participation Rules
On 29 September 2015 the Registrar of Titles determined Version 3 of both the Operating Requirements and Participation Rules for electronic conveyancing under Section 22 and Section 23 respectively of the Electronic Conveyancing National Law (Victoria).
Version 3 of the Operating Requirements and Participation Rules were published on 30 September 2015 and take effect on 9 November 2015.
In determining the Operating Requirements and Participation Rules, the Registrar has adopted the model operating requirements and model participation rules developed and approved by the Australian Registrars' National Electronic Conveyancing Council (ARNECC).
- Operating Requirements Version 3 (PDF 318.6 KB)
- Operating Requirements Version 3 (DOCX 297.8 KB)
- Participation Rules Version 3 (PDF 288.0 KB)
- Participation Rules Version 3 (DOCX 258.4 KB)
The Registrar of Titles has previously determined Version 2 of the Operating Requirements and Participation Rules in May 2014 and Version 1 in April 2013 respectively.
- Operating Requirements Version 2 (PDF 285.4 KB)
- Operating Requirements Version 2 (DOC 844.5 KB)
- Participation Rules Version 2 (PDF 346.5 KB)
- Participation Rules Version 2 (DOC 723.0 KB)
- Operating Requirements Version 1 (PDF 190.6 KB)
- Operating Requirements Version 1 (DOCX 168.0 KB)
- Participation Rules Version 1 (PDF 160.5 KB)
- Participation Rules Version 1 (DOCX 166.6 KB)
Aligning paper and electronic conveyancing
Land Use Victoria is conducting public consultation on aligning electronic and paper conveyancing, and minimising inconsistencies between the states and territories. The consultation will also consider changes to mortgage provisions.
The first step in the process is the Introductory paper below, which outlines the consultation process.
- Aligning paper and electronic conveyancing requirements – Introductory Paper (PDF 904.7 KB)
- Aligning paper and electronic conveyancing requirements – Introductory Paper (DOCX 71.0 KB)
The Consultation paper was released on 22 November 2013.
- Aligning paper and electronic conveyancing requirements – Consultation Paper (PDF 475.6 KB)
- Aligning paper and electronic conveyancing requirements – Consultation Paper (DOCX 157.6 KB)
Following is analysis of responses to the consultation paper. The document gives an overview of key issues raised in submissions and Land Use Victoria's response.
Proposed national mortgage form
Land Use Victoria customers are advised that the Australian Registrars’ National Electronic Conveyancing Council (ARNECC) has published an updated version of the National Mortgage Form Specification.
The specification of the National Mortgage Form (NMF) is for use by financial institutions and other mortgagees in readying their systems and procedures for implementation in May 2017 of new national arrangements for preparing and lodging real property mortgages in all Australian states and territories.
The form is a significant national initiative. It standardises the content and presentation of mortgages lodged for registration through all lodgement channels with land registries in all jurisdictions. National agreement on the NMF’s content was reached in July 2015 by members of a working group of land registry, financial institution and PEXA representatives. The group was chaired by the Australian Bankers’ Association. Since then, work has been undertaken to develop a specification for the NMF to incorporate all of the input received from industry. This aims to assist its implementation by financial institutions and other mortgagees, as well as PEXA.
As well as the basic content agreed to in July 2015, the specification sets out the NMF’s acceptance and lodgement scenarios in each jurisdiction, and the execution details for the mortgagor and mortgagee for each jurisdiction.
A Guide to Property Values
The annual guide to property sales information is based on figures from the Valuer-General Victoria. The guide can be requested free-of-charge. Snapshots featuring median sale prices for houses, units or vacant house blocks also available.
Victorian Property Sales Report
The Victorian Property Sales Report is a quarterly report on median sale prices by suburb for houses, units and vacant land. The report can be downloaded free-of-charge.