Section 115 — Land Transfer Act 1952: Form and registration of leases

115 Form and registration of leases (1) A lease instrument is required for the purposes of registering under this Act the lease or demise of any land. (2) A lease instrument must contain the following information: (a) the land or estate or interest to be leased, which must include a reference to the register in the prescribed manner; and (b) the person who is to acquire the interest as lessee; and (c) the term of the lease; and (d) the rent payable; and (e) the terms and conditions that are to apply to the lease. (3) A lease instrument must be executed by— (a) the registered proprietor; and (b) the lessee. (4) If the land or estate or interest to be leased is subject to a mortgage, the consent of the mortgagee must be obtained. (5) [Repealed] Sections 115 and 116 were substituted, as from 26 August 2002, by section 47 Land Transfer (Computer Registers and Electronic Lodgement) Amendment Act 2002 (2002 No 11). See clause 2 Land Transfer (Computer Registers And Electronic Lodgement) Amendment Act Commencement Order 2002 (SR 2002/216). Section 115(1): amended, on 1 January 2008, by section 364(1) of the Property Law Act 2007 (2007 No 91). Section 115(5): repealed, on 1 January 2008, by section 364(1) of the Property Law Act 2007 (2007 No 91).