VIC – Land Use Victoria – NEW Transfer of Land
There are now new requirements for creating restrictive covenants in transfers and restrictions in plans which come into effect on 1 July 2018. More information can be obtained from Land Use Victoria'sCustomer Information Bulletin 175, issued in April 2018.
LEAP now has now received approval from Land Use Victoria to distribute the updated Transfer of Land (LL-VIC-LTO‑425) and this form has now been released to our clients.
Due to the changes in the new Transfer, additions to the Title Particulars layout have also been incorporated with the release of this form. These changes will allow clients to enter the information required when a covenant is to be included in the Transfer. If no information is entered on this layout, then the word ‘NONE' will display in the Covenant section of the Transfer.
The changes to the layout include a new tab entitled ‘Restrictive Covenant Details' (see example) and provides an explanation of what is required to be entered for a covenant to display in the Transfer of Land.
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