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Land Transfer Act 2017

Dealings in estates and interests in land - Easements, profits à prendre, and covenants under Property Law Act 2007 - Notation of covenants under Property Law Act 2007

116: Notation of covenants under Property Law Act 2007

You could also call this:

"Noting rules for property promises under the Property Law Act 2007"

Illustration for Land Transfer Act 2017

You need to use a covenant instrument to note some things on the register. This includes positive or restrictive covenants that section 307 of the Property Law Act 2007 applies to. You also use it to note covenants in gross that section 307F applies to. You must note a covenant on the register when you register a transfer instrument under section 73 that transfers land and includes a covenant. To change a covenant, you use a covenant variation instrument. A covenant instrument and a covenant variation instrument must have the right information and be signed by the right people. Noting a covenant under section 307 of the Property Law Act 2007 only has a certain effect. Noting a covenant in gross under section 307F also only has a certain effect. You use a transfer instrument to note the assignment of a covenant in gross on the register. This is when section 307F of the Property Law Act 2007 applies.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM6731267.

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Part 3Dealings in estates and interests in land
Easements, profits à prendre, and covenants under Property Law Act 2007: Notation of covenants under Property Law Act 2007

116Notation of covenants under Property Law Act 2007

  1. A covenant instrument must be used in order to note on the register—

  2. a positive or restrictive covenant to which section 307 of the Property Law Act 2007 applies:
    1. a covenant in gross to which section 307F of the Property Law Act 2007 applies:
      1. the revocation of a covenant referred to in paragraph (a) or (b).

        1. However, a covenant must also be noted on the register on registration of a transfer instrument under section 73 that transfers an estate or interest in land and provides for the covenant.

        2. A covenant variation instrument must be used in order to note on the register that a covenant is affected or modified.

        3. A covenant instrument and a covenant variation instrument must contain the prescribed information.

        4. A covenant instrument and a covenant variation instrument must be executed by the covenantor and the covenantee.

        5. Notation of a covenant under section 307 of the Property Law Act 2007 has no greater effect than that specified in subsections (4) and (5) of that section.

        6. Notation of a covenant in gross under section 307F of the Property Law Act 2007 has no greater effect than that specified in subsections (3) and (4) of that section.

        7. A transfer instrument must be used in order to note on the register the assignment of the benefit of a covenant in gross to which section 307F of the Property Law Act 2007 applies.

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