NSW Land Registry Services (NSW LRS) application form: Term transfer form W-07TT
Term transfers are undertaken in accordance with Section 71N of the Water Management Act 2000.
A Water Access Licence (WAL) holder may transfer their WAL to someone else for a set period of time (not less than six months). This is called a 'term transfer' and is similar to a property rental agreement – the holder of the WAL does not change. However, during the period of the term transfer, the transferee is responsible for the water taken, payment of fees and charges, and compliance with the terms and conditions of the WAL.
This does not require an application to WaterNSW other than as provided by the Water Management (General) Regulation 2011: the term transfer just has to be registered by Land and Property Information (NSW LRS) once the agreement is complete.
A term transfer does not, by itself, allow water to be taken at a different location. If the WAL is to be used at a new location within the water source or extracted by different works, you will need to also apply to change the zone and/or nominated work on the WAL. For more information, go to Changing a WAL.
Do I need consent from other people?
To register a term transfer of a whole WAL at NSW LRS, the written consent of all holders of the WAL and all registered security interests in the WAL is required. Security interests may include mortgages and company charges held by a bank or other lending institution.
To register a term transfer relating to just a holding in the WAL (rather than the whole WAL), only the consent of the co-holders and registered security interests in that particular holding is required. The term transfer of a holding is most likely to arise where a WAL is used to supply a number of separate properties in a joint water supply scheme.
For more information, go to Term transfer on the NSW Land Registry Services website.