A not-in-common-ownership (NICO) plan arises when a plan of subdivision includes two or more folios held by different registered proprietors. Use this guide before the plan registers to prepare and lodge the paper Transfer of Land as a follower dealing, so the transfer and plan can register together and avoid unresolved NICO proprietorship.
A not-in-common-ownership (NICO) plan arises when a plan of subdivision includes two or more folios held by different registered proprietors. Use this guide when the plan has already registered without the associated transfer, creating NICO proprietorship that must now be corrected by lodging a paper Transfer of Land through a PEXA section 104 GRD workspace.
Section 15 of the Transfer of Land Act 1958 (Vic) provides a mechanism a survey-based application to convert general law land, including where there is a possessory element. Learn how and when to use this section compared to other boundary realignment methods
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