In Victoria, a commercial or retail lease is not typically registered. Believe it or not, lease registration is actually voluntary in Victoria!
How do you register?
Both types of leases can be registered over the Certificate of Title for the premises, provided the lease term exceeds 3 years. The Land Titles Office of Victoria record this registration, so make sure you inform them of your intention to register the lease. If you’re unsure of how to do this, then speak with a commercial leasing solicitor to get some legal assistance.
However, a tenant in possession under a lease, regardless of whether it is registered, obtains priority and protection over any subsequent interest. As a result, the general leasing practice in Victoria does not include registration, irrespective of the duration of the lease. In other words, registration does not affect your interest as a lessee; it merely places the lease on the register of the Land Titles Office of Victoria.
Previously for retail leases, the Small Business Commissioner, under the Retail Leases Act 2003 (Vic) required notification of when a retail lease was entered into. This notification has since been abolished, meaning registration on no longer required (but still optional).
In conclusion, a Victorian commercial lease is not required to be registered in Victoria, unless the parties agree and it is capable of being registered (ie. the term exceeds a period of 3 years).
If you’re after legal advice on commercial leasing, and want to speak with an experienced commercial leasing lawyer, in Victoria or elsewhere, give LegalVision a call today on 1300 544 755. We’re happy to assist with all of your leasing needs and will do so at a fixed-fee rate, so get a free quote today!