Clients CTs: Currently, representative subscribers would be storing thousands of CTs in safe keeping on behalf of their clients. When CTs are cancelled, some firms may wish seek instructions from their clients on what to do with their CT.
Others may want to just return CTs to their clients. All are viable options a firm should consider. If a firm is considering destroying a CT it is recommended that instructions are sought from the client in the first instance. Likewise, previous advice was to keep the CAC secure. From 11 October the concept of the CAC is redundant and is no longer required to be kept securely. Previous reliance on CoRD holder consent or production of title does not substitute for express consent from the mortgagee to be bound by the terms of the dealing as opposed to consenting for the title to be used for registration.
For example, when acting for parties to a lease of mortgaged property, if the mortgagee is to be bound by the terms of the lease, the Subscriber acting for the landlord will need to request an express consent from the mortgagee in writing and upload that onto the electronic workspace for lodgment with the land registry. Equitable mortgages and liens: Equitable mortgages and liens secured by possession of a CT will obviously become less secure once CTs are abolished.
Build your confidence around caveats Read More. Electronic conveyancing is becoming the norm, nation-wide. Electronic conveyancing is becoming the norm, nation-wide Read More. How to add a layer of legitimacy to your identity verification process to reduce identity fraud.
How to add a layer of legitimacy to your identity verification process to reduce identity fraud Read More. Combatting the rise of ransomware. Combatting the rise of ransomware Read More. Read More. Get Started If your business conducts regular searches, get started with InfoTrack today.
Get in touch with us today. About InfoTrack. Learn more about our Privacy Policy here. Our intuitive ordering solution provides streamlined access to thousands of property and commercial information searches, sourced from authorities across Australia. Search easily for property ownership information and council certificates from anywhere in Australia. The Torrens Title system uses a single register that contains a folio for each landholding. Estates and interests related to the land are recorded onto this folio, such as new ownership, mortgages, leases, easements and caveats.
A Certificate of Title is a copy of this folio of the register and creates a permanent record of the property's ownership history. The Torrens Title system is guaranteed by the NSW Government, which means that the Government promises that the registered land owners recorded in the NSW land title system are the true owners of their land.
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