Summer services update
Ownership interest replaces former unit entitlement
Under the Unit Titles Act 2010 (UTA) what was formerly called unit entitlement has been replaced by ownership and utility interests.
Valuer’s certificate
Assessment of ownership interest and notification of that assessment with the Registrar-General of Land (the Registrar) in the prescribed form is mandatory [sections 32(2)(b) and 38-39 UTA].
Form 5, Schedule 2, Unit Titles Regulations 2011 (Regulations) is the prescribed form of valuer’s certificate. Under the Unit titles Act 1972 (UTA 1972) the form of the certificate was not prescribed and valuers created their own individual certificates.
Often these certificates included additional information such as upper and lower heights and areas for units. The new prescribed form does not provide for any such additional information and this information should not be added to certificates.
Recording the certificate
It is intended that the Registrar will, on receipt of the certificate, record it against the supplementary record sheet for the unit title development in the same manner as subsequent reassessments of the ownership interests (sections 38-39 and 42 UTA).
This recording is new. Under the UTA 1972 the certificate was shown on the face of the unit plan or was part of the supporting survey data and there was no routine reassessment option available.
The historic practice of including survey data in the valuer’s certificate and lodging the valuer’s certificate with the plan should be discontinued in light of the new legislative requirements.
Compliance with the requirements of the Unit Titles Act 2010 and Unit Titles Regulations 2011
- Valuer’s certificates as to ownership and proposed ownership interest should be lodged as part of the dealing for the deposit of the unit plan (the Landonline code is OINT).
- These certificates should follow the format of the prescribed form (Form 5 Schedule 2 Unit Titles Regulations 2011).
- Any survey data should be kept out of the certificate and lodged separately as part of the survey data set.
If a unit plan has already been lodged with a valuer’s certificate (but not deposited) then the conveyancer should also lodge the valuer’s certificate as part of the plan deposit dealing.