Category Archives: Property

Conveyancing, title, certificate of title,certificate, lost title, House, key

Lost Certificate of Title?  What to do when proof of ownership goes missing

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A certificate of title is your official record of land ownership.  It contains a description of the land, lists the property owner, and lists interests and rights that affect the land.  This document is essential to have if you’re planning to sell your property since your conveyancer cannot complete the sale without it.

Thanks to an increasingly electronic world, it’s easier than ever to keep tabs on your certificate of title.  Some Australian states have already mandated that titles be held electronically by banks, lawyers or conveyancers on behalf of their clients, however there are still many paper titles in existence.  If a paper title is lost or destroyed, you will need to make an application for a new one to the Land Titles Office.  Without a copy of the title, you will be unable to obtain a mortgage or sell the property.

Your application to the Land Titles Office must be lodged via PEXA, the online property exchange used Australia-wide.  Several requirements need to be met in order to lodge an application for a new certificate of title:

  • A statutory declaration completed by all registered proprietors listed on the title explaining why/how the title became misplaced or destroyed after Land Use Victoria issued it;
  • A statutory declaration from the party that the certificate of title was last issued to (this would typically be your conveyancer’s law firm or a bank), detailing how they disposed of the missing certificate of title;
  • A statutory declaration from any other party who had subsequent possession of the title after its issue (this might be your bank, law firm, yourself or another private party);
  • A title issue search document showing whom the title was last provided to;
  • A company search (if applicable)

All parties involved in a conveyancing transaction must also have their identity verified. When a conveyancer or lawyer represents a client, they are responsible for verifying the client’s identity.  If a conveyancer or lawyer does not represent a party to a conveyancing transaction, their identity will need to be verified by Australia Post.  Australia Post representatives will also need to bear witness to the signing of any conveyancing documents by an unrepresented party.

Applying for a new title can be a lengthy and complex process, especially if the title has been passed between hands numerous times.  Missing titles can mean lengthy delays for the sale of your property, so it’s absolutely vital that the application is correctly prepared and includes all necessary documents in order to minimise interruptions.  As a firm experienced  in property and conveyancing matters, Glaister Legal has extensive skill in making applications for the replacement of certificates of title.  Contact us today if you’re seeking assistance in making your application to the Land Titles Office and we’ll help simplify the process as much as possible. 

pexa; property; conveyancing

PEXA – What is it and where is my paper house title?

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What is PEXA?

PEXA (Property Exchange Australia Limited) is Victoria’s mandatory digital platform that facilitates lodgement and financial settlement through online transactions. The e-conveyancing system commenced in Victoria in 2015 and as of 1 October 2018, almost all property transactions are required to be lodged through the online program with very limited exceptions. PEXA provides a means of streamlining the property buying and selling process. By eliminating paperwork and reducing the room for error, wait times are shortened significantly.

What is the point of going electronic?

Transactions conducted through PEXA usually result in an Electronic Certificate of Title being issued to your bank or legal representative (unless a paper title is specifically requested). The major benefit is that this practically eliminates the possibility of fraudulent transactions and lost titles which require an arduous process to replace. By being held electronically by your bank (whist there is a mortgage) or your legal representative, your title is protected and in safe hands as it can obviously not be damaged by fire, floods or other factors that cause deterioration of a paper document. The reduced paperwork and time required to deal with the titles also means lower fees and legal costs for you.

Benefits for property buyers

PEXA’s online document checking provides buyers with the peace of mind that their settlement will happen in the timeframe originally planned for. It provides the guarantee that documents have been lodged almost immediately. In the paper world, by the time everything is signed and posted, it’s not uncommon for the process to occur days or even weeks after settlement, which significantly slows down the process of registering ownership.

Benefits for property sellers

PEXA has completely eliminated the need for paper forms to be filled out. Such forms can be finicky and are prone to human error. Things like spelling mistakes, illegibility of handwriting and other problems commonly arose in the days before online transactions were available. PEXA’s Key app allows sellers to track their settlements in real-time and to securely provide sensitive details such as bank account numbers using secure, encrypted technology.

What problems has PEXA solved?

PEXA reports on their website that before digital transactions became commonplace, 20% of paper settlements were delayed by an average of seven days and that 25% of those affected customers suffered at least some financial loss due to the delay .

Is my data safe with PEXA?

PEXA upholds itself to the standards required by industry specific legislation and regulations. The platform advises they will only ever share information that it is required to in order to remain compliant with its statutory and contractual obligations, including the relevant privacy laws. You can read more about their secure data management here.

How can Glaister Legal assist?

Buying and selling real estate can be daunting. Glaister Legal has a wealth of knowledge in the property and conveyancing space; it’s what we do, day in and day out. Victoria’s move to a digital platform was overall a welcome one, however we understand that many people may still feel overwhelmed by the added challenge of engaging with the technology. Either way, we’re more than happy to step you through the online process, or simply take the bulk of the project out of your hands, leaving you to celebrate your most recent sale or purchase.

Whether you’re buying or selling an investment or a residential property, Glaister Legal is here to help. Call us today on 03 9052 5101 to set up a no-obligation initial consult. Alternatively, we’re also available via the ‘Contact Us’ page.