Australian Property Legislation
Encyclopedia
Australian property legislation refers to the different schemes of regulating property rights between each jurisdiction
of the states and territories
in Australia
; combining legislation
and receptive of common law
. Despite differing statutes, the substantive effect in each jurisdiction is quite similar. The reason there is no unified national system for regulating property
is the reservation of this power to the states in the constitution
. There have been discussions about a co-operative system of regulation to be implemented between the states, conferring jurisdiction on the federal commonwealth in a similar manner done in the Corporations Act 2001
.
Property legislation in all states is grounded upon the Torrens
principle of registration of title. This posits that each state have a central register of all land in the state and that the register also show the 'owner' of the land. This system was devised to reduce the amount of fraud
relating to land due to falsification of title deeds. The system also provides for registration of other entitlements to land such as a mortgage, by which land is used to secure a loan
. Another major principle of this system is 'indefeasibility' of title – where a right has been entered on the register, it cannot be defeated by later rights except in certain circumstances.
Jurisdiction
Jurisdiction is the practical authority granted to a formally constituted legal body or to a political leader to deal with and make pronouncements on legal matters and, by implication, to administer justice within a defined area of responsibility...
of the states and territories
States and territories of Australia
The Commonwealth of Australia is a union of six states and various territories. The Australian mainland is made up of five states and three territories, with the sixth state of Tasmania being made up of islands. In addition there are six island territories, known as external territories, and a...
in Australia
Australia
Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...
; combining legislation
Legislation
Legislation is law which has been promulgated by a legislature or other governing body, or the process of making it...
and receptive of common law
Common law
Common law is law developed by judges through decisions of courts and similar tribunals rather than through legislative statutes or executive branch action...
. Despite differing statutes, the substantive effect in each jurisdiction is quite similar. The reason there is no unified national system for regulating property
Property
Property is any physical or intangible entity that is owned by a person or jointly by a group of people or a legal entity like a corporation...
is the reservation of this power to the states in the constitution
Constitution of Australia
The Constitution of Australia is the supreme law under which the Australian Commonwealth Government operates. It consists of several documents. The most important is the Constitution of the Commonwealth of Australia...
. There have been discussions about a co-operative system of regulation to be implemented between the states, conferring jurisdiction on the federal commonwealth in a similar manner done in the Corporations Act 2001
Corporations Act 2001
The Corporations Act 2001 , sometimes referred to just as the Corporations Act , is an act of the Commonwealth of Australia that sets out the laws dealing with business entities in Australia at federal and interstate level...
.
Property legislation in all states is grounded upon the Torrens
Torrens title
Torrens title is a system of land title where a register of land holdings maintained by the state guarantees an indefeasible title to those included in the register...
principle of registration of title. This posits that each state have a central register of all land in the state and that the register also show the 'owner' of the land. This system was devised to reduce the amount of fraud
Fraud
In criminal law, a fraud is an intentional deception made for personal gain or to damage another individual; the related adjective is fraudulent. The specific legal definition varies by legal jurisdiction. Fraud is a crime, and also a civil law violation...
relating to land due to falsification of title deeds. The system also provides for registration of other entitlements to land such as a mortgage, by which land is used to secure a loan
Loan
A loan is a type of debt. Like all debt instruments, a loan entails the redistribution of financial assets over time, between the lender and the borrower....
. Another major principle of this system is 'indefeasibility' of title – where a right has been entered on the register, it cannot be defeated by later rights except in certain circumstances.
List of legislation by state or territory
- Real Property Act 1900 (NSW)
- Transfer of Land Act 1958 (VIC)
- Real Property Act 1925 (ACT)
- Property Law Act 1974 (QLD)
- Law of Property Act (NT)
- Real Property Act 1886 (SA)
- Real Property Act 1862 (TAS)
- Property Law Act 1969 (WA)