By Julie Barkla
January 23, 2017
Over the last 12 months, many property owners would have discovered that it has become somewhat more difficult to obtain their Certificate/s of Title from their solicitor (where a valid paper title still exists). They may also have experienced difficulties or delays in transferring their paper title from one firm of solicitors to another.
On 30 September 2015, the “Registrar’s requirements for paper conveyancing transactions” was published pursuant to section 106A of the Transfer of Land Act 1958 (Vic). These requirements, which took effect on 9 November 2015, obliged solicitors to take reasonable steps to verify the identity of those to whom they proposed to release paper Certificates of Title.
Whilst property owners may sometimes find it frustrating to be asked to jump through additional hoops in order to get their hands on their Certificate of Title, the risk of damage and loss emanating from titles being improperly or erroneously released, provide a relatively sound rationale for the new regime.
Accordingly, paper title owners should expect that they will need to have their identity verified by their solicitor before they can receive their title. This verification would ordinarily require them to attend their solicitor’s office in person, with their passport and driver’s licence (where possible). Where more convenient, they may be able to attend their local Australia Post with their identity documents and a Verification of Identity form provided by the lawyers holding their paper title, to have their identity verified.
For further information, please contact Julie Barkla.