sec.140Effect of priority notice

### sec.140 Effect of priority notice The deposit of a priority notice for a lot prevents an instrument affecting the lot or an interest in the lot being registered until the notice lapses or is withdrawn, removed or cancelled. However, the priority notice does not prevent registration of— an instrument if the person for whom the notice was deposited consents to its registration; or an instrument of transfer or release of mortgage executed by a mortgagee whose interest was registered before the notice was deposited; or an instrument lodged before the notice was deposited; or a related instrument that is lodged in the order stated in the notice; or a caveat; or another instrument that, if registered, would not affect an interest the subject of the notice. Also, the priority notice (the current notice ) does not prevent the registration of an instrument to which another priority notice for the lot (the earlier notice ) relates if— the earlier notice was deposited before the current notice; and the earlier notice has not lapsed or been withdrawn, removed or cancelled. s 140 ins 1994 No. 81 s 526 sch 4 amd 2013 No. 23 s 352 s ch 1 pt 1 sub 2017 No. 10 s 39 amd 2019 No. 17 s 58 (sec.140-ssec.1) The deposit of a priority notice for a lot prevents an instrument affecting the lot or an interest in the lot being registered until the notice lapses or is withdrawn, removed or cancelled. (sec.140-ssec.2) However, the priority notice does not prevent registration of— an instrument if the person for whom the notice was deposited consents to its registration; or an instrument of transfer or release of mortgage executed by a mortgagee whose interest was registered before the notice was deposited; or an instrument lodged before the notice was deposited; or a related instrument that is lodged in the order stated in the notice; or a caveat; or another instrument that, if registered, would not affect an interest the subject of the notice. (sec.140-ssec.3) Also, the priority notice (the current notice ) does not prevent the registration of an instrument to which another priority notice for the lot (the earlier notice ) relates if— the earlier notice was deposited before the current notice; and the earlier notice has not lapsed or been withdrawn, removed or cancelled. - (a) an instrument if the person for whom the notice was deposited consents to its registration; or - (b) an instrument of transfer or release of mortgage executed by a mortgagee whose interest was registered before the notice was deposited; or - (c) an instrument lodged before the notice was deposited; or - (d) a related instrument that is lodged in the order stated in the notice; or - (e) a caveat; or - (f) another instrument that, if registered, would not affect an interest the subject of the notice. - (a) the earlier notice was deposited before the current notice; and - (b) the earlier notice has not lapsed or been withdrawn, removed or cancelled.