Form 23 Settlement Notice End of Life

Further to Titles Registry Alert 138, please note that from 1 January 2018. Settlement Notices can no longer be deposited in the Titles Registry.

The current Queensland Settlement Notice mechanism will be replaced by a Priority Notice mechanism as part of a move toward national consistency in a range of titling processes to support national electronic conveyancing in Australia. 

While the fundamental purpose of the new Priority Notice will be the same as the current Settlement Notice, there are a number of minor changes, including application to a wider range of instruments and the ability to extend the effect of the notice for 30 days. The new mechanism will allow a person who is, or will be, a party to an instrument intended to be lodged to deposit a Priority Notice.  A Priority Notice will identify each instrument to which the notice relates and with a few exceptions, the deposit of a Priority Notice will prevent registration of other instruments affecting the lot or an interest in the lot until the notice lapses after 60 days or is withdrawn, removed or cancelled.  A Priority Notice will be able to be lodged through eConveyancing or through eLodgement or in paper.
This change takes effect from 1 January 2018 in line with the commencement by Proclamation of relevant provisions of the
Land and Other Legislation Amendment Act 2017.  
It is important to note that there will be no transition period.  
This means Settlement Notices can only be deposited until the Titles Registry’s close of business in December 2017. Settlement Notices can NOT be accepted by the Titles Registry from 1 January 2018 even if the Form 23 was executed prior to 1 January 2018.

A Form 23 - Settlement Notice deposited prior to 31 December 2017 will continue to have effect until it lapses or is withdrawn, removed or cancelled.
From the commencement of business in January 2018 only Priority Notices (and not Settlement Notices) will be accepted. Priority Notice Forms can be accepted from this date even if they were signed prior to 1 January 2018.

When a Notice is intended to be deposited after 1 January 2018 but is being prepared in the weeks prior to that date, it is the Priority Notice form (and not the Settlement Notice form) that must be used.

The fee to deposit a Priority Notice is the same as the deposit fee for a Settlement Notice (currently $34). The Titles Registry fee calculator will be updated in 2018 to include the new Priority Notice. 

The Priority Notice Form is now available online at https://www.business.qld.gov.au/industries/building-property-development/titles-property-surveying/titles-property/titles-registry-forms
Part 23A regarding Priority Notices and their withdrawal and extension has been inserted into the Land Title Practice Manual https://www.business.qld.gov.au/industries/building-property-development/titles-property-surveying/titles-property/practice-manual