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As from 28 November 2016 there have been important amendments to the Real Property Act in New South Wales. You can lodge a priority notice giving notice of an intended registration of a dealing which immediately prevents any further dealings being registered on that title, except those that are referred to in the priority notice or those that have been lodged in registrable form before the registration of the priority notice. The priority notice lasts for 60 days and may be extended for a further 30 days. If it is lodged without reasonable cause the applicant may be liable to pay compensation to any person who suffered loss as a result of the priority notice. The establishment of priority and freezing all dealings on the title for a period of 90 days (60+30) is going to be of importance in conveyancing, mortgages, receivers or liquidators dealing with property.

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