KEY TAKE-OUTS:
- From 11 October 2021, all NSW Certificates of Title will be cancelled and no new Certificates will be issued.
- What does the Abolition of Certificates of Title mean for landowners?
- What happens if you, a solicitor/conveyancer or somebody else is holding a Certificate of Title?
From 11 October 2021, all NSW Certificates of Title will be cancelled and no new Certificates will be issued. From this date, a Certificate of Title is no longer a legal document.
What does this mean for landowners? Landowners are not required to do anything on or before this date. When land is dealt with after this date, no Certificate of Title will be issued. Instead, an Information Notice will issue which will confirm any dealings registered and the date of registration of those dealings.
An Information Notice cannot be relied on as an accurate reflection of the current Torrens Title Register, and as such, it is imperative that a search of the Torrens Title Register is conducted when dealing with land. As always, the Torrens Title Register will continue to be maintained and will be the true source of information and ownership regarding land. All dealings are also required to be electronic after 11 October 2021.
If you are currently dealing with or plan to be dealing with the land in the next 6 months, you or your solicitor/conveyancer should continue to hold the Certificate of Title, as a transaction that began before this date, but is not yet finalised, may require the Certificate to satisfy requisitions or administrative notices that are issued before 11 October 2021.
What happens if you, a solicitor/conveyancer or somebody else is holding a Certificate of Title?
If a solicitor/conveyancer or someone else is holding a Certificate on your behalf, although after 11 October 2021 it will no longer be a legal document; it is still your personal property, and as such it is up to you what becomes of it.
You may wish to request your Certificate be returned before 11 October 2021, if someone else is holding it on your behalf. After 11 October 2021, it will no longer be a legal document and any remedy under the Real Property Act 1900 will no longer apply.
The current requirement for solicitors/conveyancers holding Certificates of Title with Certificate of Authentication Codes is that they must be held securely (e.g. in a safe). After this date, solicitors/conveyancers are no longer required to hold these documents securely as they are no longer defined as legal documents.
Please note the above advice is general only and is specific to the individual Contract in question.
For further clarification on the above, please feel free to phone me to discuss.
ABOUT CHRISTINE JOHNSEN:
Christine is a licensed conveyancer and Justice of the Peace at Coutts’ Narellan office. She is highly efficient and is able to assist clients with matters concerning; the sale and purchase of residential and commercial property, retirement village contracts, put & call options and family transfers.
For further information please don’t hesitate to contact:
Christine Johnsen
Licensed Conveyancer & JP
christine@couttslegal.com.au
1300 268 887
CONTACT COUTTS LAWYERS & CONVEYANCERS TODAY.
This blog is merely general and non-specific information on the subject matter and is not and should not be considered or relied on as legal advice. Coutts is not responsible for any cost, expense, loss or liability whatsoever in relation to this blog, including all or any reliance on this blog or use or application of this blog by you.
