I have been informed if a Commercial lease has a term of more than 3 years, it must be registered. Is that correct?
Say you bought a property with a current tenant & the lease wasn't registered. What happens if the lease isn't registered? How much & where do you register the lease? Are there any legal issues now or down the track?
How do you check if a Commercial lease is registered or not? Is there a free site to check this somehow?
thesuperman wrote:I have been informed if a Commercial lease has a term of more than 3 years, it must be registered. Is that correct?Say you bought a property with a current tenant & the lease wasn't registered. What happens if the lease isn't registered? How much & where do you register the lease? Are there any legal issues now or down the track? It costs very little to register the lease and put it right. The registration serves to alert owners/mortgagees etc that there is a lesser interest in place.
How do you check if a Commercial lease is registered or not? Is there a free site to check this somehow?
Fee for service – it takes a title search to reveal all encumbrances
You must be logged in to reply to this topic. If you don't have an account, you can register here.
