Subdivision title release

[strongy1986]

I spoke to bank manager about subdividing two properties which are both secured by the bank (not x Coll)

He said I would need a letter written by a solicitor requesting this?

Is this correct ? Does it need to be written by a solicitor? Is there a formal name for this type of letter/ request?

Thanks

 

[Terry_w]

No, not correct.

Tell him you are subdividing and need bank to produce titles at land title office to allow the issuing of new titles. The lender will need to arrange valuations on the new blocks and must make sure that the normal LVRs and servicing requirements etc are met.

 

[thatbum]

Terry, you just robbed a poor private solicitor of more than a few units of billing to write a everyday letter! (albeit very elegantly worded, and with a shiny letterhead)

 

[Terry_w]

Those poor lawyers! Wonder how much money is made or wasted by banks etc wanting unnecessary letters.

Someone the other day wanted me to write a letter regarding a fine. I said I would do it for $500 and she said the fine is only $600. I replied that it would probably take me 2 hours going back and forwards to her, writing the letter, getting the envelop, going to the PO, receiving a reply etc. She offered me $100 and I declined. Wasted 10min talking about it anyway.

 

[strongy1986]

Thanks terry

I thought this sounded a bit unnessecary

 

[Hodge]

Those poor lawyers! Wonder how much money is made or wasted by banks etc wanting unnecessary letters.

Someone the other day wanted me to write a letter regarding a fine. I said I would do it for $500 and she said the fine is only $600. I replied that it would probably take me 2 hours going back and forwards to her, writing the letter, getting the envelop, going to the PO, receiving a reply etc. She offered me $100 and I declined. Wasted 10min talking about it anyway.

That's pretty insulting what she offered. I would have told her where to stick her money.

 

[Terry_w]

That's pretty insulting what she offered. I would have told her where to stick her money.

I politely did - sort of