As from 11 October 2021 all dealings with real property, including commercial and retail Leases, must be lodged electronically for registration and can no longer be lodged in paper form as has been the case for many decades.
The Lease will have to be lodged for registration using an authorised electronic platform such as PEXA. However, the Lease will still have to be prepared in paper form and signed by the lessor and lessee.
The lessor’s legal representative will then create an electronic Lease form on the workspace of the electronic platform and upload the signed Lease terms and conditions allowing the Lease to then be lodged for registration.
Obviously, this will make it easier to register Leases by removing the need to physically attend NSW Land Registry Services to lodge a Lease over the counter, however, there will be an additional cost in using the electronic platform for the registration.
September 2021