New Zealand Legislation: Acts

18 Registration of transfers of common property

• (1) Every memorandum of transfer of the whole or any part or parts of the common property shall, in addition to any plan that the Registrar may require to be deposited under section 167 of the Land Transfer Act 1952, be accompanied by a new unit plan, which shall be in substitution for and shall be deposited under the same number as the existing unit plan, and shall show the effect of the transfer to the satisfaction of the Registrar.

  (2) Where any unit is subject to any existing registered mortgage, charge, lease, or sublease, the Registrar shall not register any transfer of the whole or any part or parts of the common property until there has been produced to him a consent in writing by every registered mortgagee, annuitant, lessee, and sublessee to the release of his interest in the land comprised in the transfer; and upon registration of the transfer each such consent shall operate as a discharge of the mortgage or charge, or a surrender of the lease or sublease, as to the land comprised in the transfer, as the case may be.

  (3) The Registrar shall register any transfer to which subsection (1) refers by—

  • (a) causing an appropriate memorial relating to the transfer to be noted on the new unit plan and on the supplementary record sheet; and

  • (b) issuing in the name of the transferee a certificate of title to the land transferred free from any incidental rights existing over the land by virtue of section 11.

  (4) Nothing in this section shall restrict section 20.

  (5) The foregoing provisions of this section shall apply to every case where any common property is taken by proclamation:

  provided that, if the body corporate so requests by notice in writing, the Chief Surveyor shall, at the expense of the Crown, prepare the new unit plan required by subsection (1).

  Compare: NSW Act, s 10

  Subsection (5) was inserted, as from 2 November 1979, by section 18 Unit Titles Amendment Act 1979 (1979 No 37).