Major Changes to Land Law
The text of the Land and Conveyancing Law Reform Act 2009 is now available.
Almost all of the provisions of the Act will come into effect from 1 December 2009. The only section of the Act not commenced form that date is Section 132 regarding the review of rent in certain cases.
In addition to the substantive reform of Conveyancing Law, the Act also addresses and includes substantive change on the following:
- The taking and enforcement of securities with particular reference to mortgages and charges
- The creation, operation and variation of trusts
- The creation and completion/execution of deeds - the Act redefines what constitutes a deed
- The use of future interests
- The enforceability of both positive and negative covenants
- The use and severance of co-ownerships
- The law in respect of judgment mortgages
- The law in respect of lis pendens