What is a Priority Notice?
A Priority Notice is a form lodged in the Department of Natural Resources and Mines over the title to a Lot (most often prior to settlement) in order to preserve the priority of instruments that are to be lodged over the title in respect of that Lot. Most commonly a Priority Notice will be lodged to reserve the priority of a transfer and mortgage intended to be lodged following settlement. A Priority Notice, once registered on title, serves as a warning to any who performs a title search of the fact that lodgement of the instruments listed in the notice is intended.
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