Tuesday, November 15, 2016

Priority Notice

A Priority Notice is a notification of the intended registration of specified dealing(s) with land.

Once recorded a Priority Notice will temporarily prevent the registration of other dealings with the subject land.

 

What that means is that if someone is searching a title and that title is currently under a contract for sale then the search will show the notification of that sale. Fraud prevention is one part of these notices. It is expected to increase the likelihood of a fraud being detected.

There are other uses for Priority Notices.

For more information see:

lpi.nsw.gov.au/../2016-14_Introduction_of_priority_notices.pdf