Best way to monitor if someone is selling / encumbering your IP without your consent?

Hey Guys,

Say if one was concerned about someone selling, changing title, encumbering a property that is not rightfully theirs to do so, what would be the best way to actively monitor this, so when the time is right take legal action as quickly as possible?

Checking Rpdata regularly is one way im using at the moment but there is often a delay with records being updated as there is no set timeframe in which agents are required to update "on the market" and sold data. And also this is a manual task often forgotten unless i set daily reminders.

The other way i can think of is to run title searches every so often but not practical, again manual task.

Is there any service out there that can monitor this and notifiy myself as soon as there is either any change, whether it be a title change, listed on the market, finance being taken out anything at all that could impact the value or encumber the property?

An online service somewhat similar to how a credit file monitor works when changes are made on your credit file due to identity theft etc you get a phone call right away notifying you?


cheers

T
 
Two possible options to consider without all the hard work:

  • take out a small mortgage on the property (so bank holds the deeds) - bank will have to alert you if someone is trying to discharge the mortgage.
  • put a caveat on the property (or have someone like your solicitor do it)
 
Consider title insurance: http://stewartau.com

In the event that your title is stolen under the circumstances you've described, you'll at least be compensated for it if you can't get the property back.

Costs about $360 as a once off premium and covers you against a whole lot of other potential problems as well.
 
Have already done a caveat which has now lapsed as they are only valid for 3 months and reapplication was rejected.

Can i also point out a mortgage is already registered on the property - surely this will cause a few alarms to ring if they try to transfer the title or take out another loan against the property?

SOP: thats perfect but its only WA
 
The thing is, someone transferring your title will be pretending they are you, the owner.

Perhaps taking a small loan with a bank, a loc maybe will give protection. If the mortgage is released without your knowledge you can always blame the bank.
 
Have already done a caveat which has now lapsed as they are only valid for 3 months and reapplication was rejected.

Can i also point out a mortgage is already registered on the property - surely this will cause a few alarms to ring if they try to transfer the title or take out another loan against the property? A

Why would a reapplication caveat by yourself be rejected?

I made an offer on a property recently and the bank and a relative had caveats on it. I guess in a case like that you wouldn't be able to add a caveat to your own property?
 
Ok let me just clear things up.

The property is not currently in my name but according to a will it should be.

Iam concerned about the current person on title cashing the property out and fleeing the country.

They have already managed to take out a line of credit (reverse mortgage) against the property which is now registered on title, i have had the bank freeze the funds.

I lodged a caveat on the property which was rejected and a repplication was rejected.

I have put the current person on title on notice that if they further encumber the property it is a criminal offense according to terms of the will.
 
Ok let me just clear things up.

The property is not currently in my name but according to a will it should be.

Iam concerned about the current person on title cashing the property out and fleeing the country.

They have already managed to take out a line of credit (reverse mortgage) against the property which is now registered on title, i have had the bank freeze the funds.

I lodged a caveat on the property which was rejected and a repplication was rejected.

I have put the current person on title on notice that if they further encumber the property it is a criminal offense according to terms of the will.

To use a legal phrase - friggin hell!

As a beneficiary under the will you would have an equitable interest, why was the caveat rejected?

Have you sought legal advice on this?
 
Just a quick question if all the titles are held with several banks 3 I think I owe one dollar on and still do I think,then how safe is that? we have been told by several legal people accountants that that was a safe way,i don't think I would like them in a safe as someone could just jack up the safe and walk out the door..
 
willair - pretty safe if the bank holds your titles in their safe/vault. If the titles went walkies, they would still need to physically lodge them at the titles office to get the titles changed. This makes it unlikely to happen unauthorised. Even if it did, the titles office provides compensation for people who are the subject / victim of fraud.
 
willair - pretty safe if the bank holds your titles in their safe/vault. If the titles went walkies, they would still need to physically lodge them at the titles office to get the titles changed. This makes it unlikely to happen unauthorised. Even if it did, the titles office provides compensation for people who are the subject / victim of fraud.
I,m not worried about it ,,but thanks for the info if it's not safe in a bank vault then it's not safe anywhere,i have only ever had one problem a few years back when a lady real estate person wanted us to list a property that we did not wish to sell or list,and one line she said to me made me worry a bit,she said we know where the title is ect ect,,,,
one phone call from my legal person fixed that very quickly "what's private remains private"..
 
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