PAPER CERTIFICATES OF TITLE ABOLISHED
- 20 Oct 2021
- Property & Conveyancing
PAPER CERTIFICATES OF TITLE ABOLISHED: October 11th 2021 brings on the abolition of paper Certificates of Title, as we move towards a more digitalised society.
As of 11th October 2021, the paper Certificates of title (sometimes referred to as ‘title deeds’) will become obsolete and essentially unnecessary for conveyancing transactions.
Recent changes to the Real Property Amendment (Certificates of title) Act 2021 means that almost all conveyancing transactions shall be completed electronically.
The NSW Land Registry Services will no longer issue paper Certificates of Title to registered proprietors and the Torrens Title register shall be the solitary source of property ownership.
In light of these important changes, Maclarens Lawyers shall be vigilant when dealing with property transactions and will ensure that we properly identify clients for each transaction. For example, we will sight photo identification, passports, marriage certificates and utility statements.
What action is necessary for our clients?
No action is necessary. If you are a registered proprietor of land, your details are duly noted on the Torrens register.
Should you wish to collect your paper Certificate of Title from us, please advise us and this will be arranged.
Maclarens hold numerous Certificates of Title in our safe custody and we are happy to continue to do so, free of charge, for our clients.
If you have a loan or an agreement that is secured by a Certificate of Title, we advise that you speak with us as this agreement may need to be amended. You may request to register a Mortgage or Caveat (if appropriate) on the title, to secure your interests. Please review your circumstances and seek further legal advice.