How important is Certificate of Title?
- Thread starter Lotana
- Start date
I think I read somewhere that there are two certificates of Title. The one you have (a copy), and the one that the Land Titles office keeps (the original?). I have no idea how important it is these days, especially because virtually all the information is computerised these days.
more important under the old system of title. that was written on a piece of paper (which could be burned).
Torrens title is kept on a computer somewhere. so you don't have to worry about fire, the gov has to worry about backups!
If you have a property under the old title, you can cahnge it. Makes life easier for everyone.
Jas
Torrens title is kept on a computer somewhere. so you don't have to worry about fire, the gov has to worry about backups!
If you have a property under the old title, you can cahnge it. Makes life easier for everyone.
Jas
Hi
The cost of a replacement Certificate of Title in NSW is $62.00, a further fee of $62.00 is payable if the CT is a manual title (not being converted to a automated title at this time).
In the case of a CT being destroyed by a bushfire the fee is waived (at present).
In a nutshell, evidence of loss, fire certificate or police report (if burnt or stolen) would be attached to a statutory declaration explaining the loss.
Copies of the register are now placed on optical disc and stored in secure sites.
regards
Simon H
The cost of a replacement Certificate of Title in NSW is $62.00, a further fee of $62.00 is payable if the CT is a manual title (not being converted to a automated title at this time).
In the case of a CT being destroyed by a bushfire the fee is waived (at present).
In a nutshell, evidence of loss, fire certificate or police report (if burnt or stolen) would be attached to a statutory declaration explaining the loss.
Copies of the register are now placed on optical disc and stored in secure sites.
regards
Simon H
what happens if the city and parramatta office both of the place is burn down by fire just like canberra???
Regards
Jerry
Regards
Jerry
Comes down to risk management. What are the chances of the land titles office and every "offsite backup site" being destroyed pretty much simultaneously?
If that happens, then there will be a percentage of people who do not have their Certificate of Title.
Even then, if that was to happen, how many people would not have other substantive proof of ownership (eg. Council Rate records, bank mortgages etc). All of which offer prima-facie recognition of ownership.
(Whether that would be accepted, of course, is another matter).
Problem is, even if you did have the Certificate of Title (Copy), and the titles office burns down, it places real suspicion on all the copies since they are therefore much more open to forgery and fraud.
If that happens, then there will be a percentage of people who do not have their Certificate of Title.
Even then, if that was to happen, how many people would not have other substantive proof of ownership (eg. Council Rate records, bank mortgages etc). All of which offer prima-facie recognition of ownership.
(Whether that would be accepted, of course, is another matter).
Problem is, even if you did have the Certificate of Title (Copy), and the titles office burns down, it places real suspicion on all the copies since they are therefore much more open to forgery and fraud.
Certificate of title
The CT issue isn't that straightforward.....at Law School, i was taught that you should never let the CT fall into the "wrong" hands as someone can actually use your CT to register an interest in your property.....case law supplies many instances of this. It is fraud but is apparently hard to reverse.
Savanna
The CT issue isn't that straightforward.....at Law School, i was taught that you should never let the CT fall into the "wrong" hands as someone can actually use your CT to register an interest in your property.....case law supplies many instances of this. It is fraud but is apparently hard to reverse.
Savanna
