Update: NSW to Abolish Certificates of Title
In an update to our article, ‘So Long to Paper Certificates of Title’, the NSW Government has confirmed that certificates of title will indeed be a thing of the past. Through the introduction of the Real Property Amendment (Certificates of Title) Act 2021, all certificates of title will be electronic from 11 October 2021.
Existing certificates of title will be cancelled and no longer considered a legal document. Plus, no new certificates of title will be issued. As such, following registration of dealings recorded on certificates of title such as a lease, transfers of proprietorship or if you discharge a mortgage or purchase a property without finance, no certificate of title will be issued to you after 11 October 2021.
The changes also extend to Authorised Deposit-Taking Institutions, such as banks, as they will not be issued with a Control of the Right to Deal (CoRD), the electronic equivalent of a certificate of title.
Also from 11 October 2021, all dealings, caveats and priority notices must be registered on an Electronic Lodgment Network such as PEXA. Paper dealings will no longer be accepted for lodgement. This shift is part of the NSW Government’s progression to 100% eConveyancing.
As a result, a person who wants to buy, sell or deal with property must engage a conveyancer or lawyer who subscribes to an Electronic Lodgment Network Operator to act on their behalf.
In its move away from certificates of title and CoRD, the NSW Land Registry Services will instead be issuing an Information Notice. The Information Notice will include the title details, the dealing(s) that were registered, including their registration number(s), the subscriber’s preference, and the registration date. The registration of these dealings will be updated on the Torrens Title Register.
The Torrens Title Register that Land Registry Services maintain will continue to be the single source of truth regarding property ownership in NSW. A title search may be obtained from NSW Land Registry Services, which will provide the most accurate and up to date title information regarding the property.
Henry William Lawyers can assist with any related enquires. Feel free to contact our people:
Ron Zucker 0410 590 111
Steve Williams 0404 821 464
Vincent Tripodina 0408 228 108
Chelsea Woodward 0404 065 899
Anna Polhill 0431 174 352