Water is managed separately from land in Victoria. The right to use water and to participate in water share schemes comes under the Water Act 1989, and ownership of water shares is recorded on the Victorian Water Register, with the Registrar of Titles also acting as Registrar of Water Shares.
Because water entitlements are a separate form of property, they are not bundled into the land title, so a buyer who assumes a farm or rural block comes with its historical water allocation can be mistaken. The contract and the water register both need to be checked to confirm what is included, and dealing with water rights has its own forms and processes through the Victorian Water Registrar.
This is the kind of matter CMK Legal's property and conveyancing team handles.
Water rights can be valuable and may be held or traded separately from the land, so they should not be assumed. The contract should make clear whether any water share or entitlement is part of the sale.
Law referenced: Water Act 1989; Victorian Water Register.