Land And Conveyancing Law Reform Act 2009
Other conditions of title.
58.— (1) Subject to subsection (2), a purchaser of land is not entitled to require—
[VPA 1874, s. 2]
[CA 1881, s. 3]
( a) the production of an instrument dated or made before the period referred to in section 56 , or stipulated in the contract for sale, for the commencement of the title, even though the instrument creates a power subsequently exercised by an instrument produced to the purchaser, or
( b) any information, or make any requisition, objection or inquiry with respect to any instrument referred to in paragraph (a) or the title prior to that period, notwithstanding that any instrument, or that prior title, is recited, agreed to be produced or noticed,
and the purchaser shall assume, unless the contrary appears, that—
(i) the recitals contained in the instruments produced, relating to any instrument forming part of that prior title are correct, and give all the material contents of the instrument so recited, and
(ii) every instrument so recited was duly executed by all necessary parties, and perfected, if and as required, by any act required or permitted by law.
(2) Subsection (1) does not deprive a purchaser of the right to require the production of any—
( a) power of attorney under which any instrument which is produced is executed, or
( b) instrument creating or disposing of an interest, power or obligation which is not shown to have ceased or expired, and subject to which any part of the land is disposed of by an instrument which is produced, or a copy of which is produced, or
( c) instrument creating any limitation or trust by reference to which any part of the land is disposed of by an instrument which is produced.
(3) On a sale of land, the purchaser, where the purchaser requires the vendor to carry out such matters, shall bear the expenses (except where such expenses should be borne by the vendor in compliance with the obligation to deduce title) of—
( a) production and inspection of all instruments, letters of administration, probates, proceedings at courts, records, statutory provisions and other documents not in the possession of the vendor, or the vendor’s mortgagee or trustee,
( b) making, procuring, producing, searching for and verifying all certificates, declarations, evidence and information, and all attested, office, stamped or other copies or abstracts of, or extracts from, any statutory provisions or other documents, not in the possession of the vendor or the vendor’s mortgagee or trustee,
( c) making any copy, whether attested or unattested, of any document retained by the vendor, or the vendor’s mortgagee or trustee, required to be delivered by the purchaser.
(4) On a sale of land in lots, a purchaser of two or more lots held wholly or partly under the same title is entitled to no more than one abstract of the common title, nor to more than one copy of any document forming part of the common title, except at the purchaser’s own expense.
(5) The inability of a vendor to furnish the purchaser with an acknowledgment of the right to production and delivery of copies of documents of title is not an objection to title where the purchaser will, on the completion of the contract, have an equitable right to the production of such documents.
(6) Such acknowledgments and such undertakings for the safe custody of documents as the purchaser requires shall be furnished at the purchaser’s expense, and the vendor shall bear the expense of perusal and execution on behalf of or by the vendor, and on behalf of and by necessary parties other than the purchaser.
(7) A vendor may retain a document of title where—
( a) the vendor retains any part of the land to which the document relates, or
( b) the document comprises an instrument—
(i) creating a trust which still exists, or
(ii) relating to the appointment or discharge of a trustee of an existing trust.
(8) This section takes effect subject to the terms of the contract for the sale or other disposition of the land.
(9) Nothing in this section is to be read as binding a purchaser to complete the purchase in any case where, on a contract made without reference to this section but containing stipulations similar to any of its provisions, specific performance would not be granted by the court against the purchaser.
(10) In this section—
( a) “instrument” includes a copy or abstract,
( b) “production” includes furnishing a copy or abstract and cognate words shall be read accordingly.