Digital lapsing notices
Lapsing notices have now gone digital. NSW Land Registry Services (NSW LRS) have announced all lapsing notices will now be sent to the lodging party via email.
This new process will significantly improve notification times and make it easier to remove a caveat. The email will also include a new standardised statutory declaration to improve quality assurance and reduce requisition delays.
A caveat lapses when:
- The interest claimed under the caveat is satisfied by the registration of another dealing; or
- An Application for Preparation of Lapsing Notice (form 08LX), is lodged with NSW LRS by the registered proprietor of the land or a registered interest.