Abolition of Certificates of Title for land in NSW

Headshot of Jessica Wadwell - Conveyancer at Everingham Solomons TamworthFrom 11 October 2021, all paper Certificates of Title for land in NSW will be cancelled and converted to electronic Certificates of Title.

What does this mean for me as a landowner?

1. If you hold a paper Certificate of Title, that paper title will be cancelled.
2. Those who pay off their mortgage will not receive a paper title.
3. A cash purchaser of land will not receive a paper title following settlement.
4. When a parcel of land is subdivided, consolidated or in any other way created, a paper title will not be issued for that new parcel of land.… Read More

The Death of the Title Deed

Headshot of Sarah Rayner - Solicitor at Everingham Solomons TamworthOver the past few years, The NSW Property Law system has been progressively moving towards a system in which land dealings are being lodged electronically. The electronic system is known as eConveyancing.

Recently, the Office of the Register General has announced the date in which NSW will become a 100% electronic system.

This date is being referred to as the Cessation Date.

The Cessation date of 11 October 2021 brings with it a multitude of changes.

One of the bigger changes to the system is the abolition of the Certificate of Title (CT), or more commonly known as the title deed.… Read More

When does “approval” of finance, really mean you have the loan?

Headshot of Suzanne Hindmarsh - Conveyancer at Everingham Solomons TamworthYou’ve been saving hard and have the deposit to purchase your first home. You’ve looked at many houses and finally found the one. You’ve made an offer through the real estate agent and your offer has been accepted by the vendor.

You organize your pest and building reports. You know your finance is arranged as you’ve been pre-approved by your chosen lender. WRONG!

A pre-approval of finance from a lender is only an “indication” of the amount the lender considers you may borrow based on your previous financial circumstances.

Until you make a formal loan application for the house you have chosen and subsequently you receive written confirmation of finance approval from your lender noting the details of the house you intend to purchase plus a signed loan offer, the lender is under no obligation to provide you with finance.… Read More

Do I have to pay a Rental Bond? It’s the Lease you could do.

Headshot of Sarah Rayner - Solicitor at Everingham Solomons TamworthMost Australians will at some point in their lifetime sign a lease. Whether that be a residential lease for a property to live in, a retail space or for some other commercial endeavour.

Most Landlords will require you to put forth some kind of security deposit/bond in leasing matters.

But what are the requirements for you to do such a thing?

In short security for a Lease is not compulsory. In saying that however, most Landlords will require you to pay one. This gives them some security and goes some way to ensuring that they are not left out of pocket if you damage the property or fail to pay rent.… Read More

Council has a sewer/water main on my property but no easement?

We are often asked whether a local council requires an easement for its water and sewer pipes to remain on a person’s private land and further whether council is entitled to enter upon the private land to carry out repairs and works on that infrastructure.

The Local Government Act provides the answer in respect of storm water works, sewer and water supply works.

Section 59A of the Local Government Act provides that Council is the owner of all works of water supply, sewerage and storm water drainage installed in or on land by the council, whether or not the land is owned by council.… Read More

Is the sale of farmland GST free?

The answer is sometimes.

Where a farming enterprise has been carried on a rural property, for a minimum of 5 years and where the purchaser intends to carry on a farming operation, then generally the sale will be exempt from payment of GST.

A recent matter highlighted the importance of ensuring that each transaction is examined on its facts and generalisations such as the above rule, are not adopted on a wholesale basis.

The facts: The sellers had operated a farming enterprise (sheep) on their property for many years. They had agreed to sell 15 acres from their rural property to a Purchaser.… Read More

Conveyancing Terminology

Buying or selling real estate is an exciting prospect. The actual process of transferring ownership in land can be quite daunting for many people. Sometimes a buyer/seller of property has difficulty understanding conveyancing terms their solicitor/conveyancer uses.

The following are some commonly used terms you will encounter when buying or selling property in NSW:-

Vendor: the owner of the property

Purchaser: the buyer of the property

Mortgagee: the Bank providing monies to a person for the purchase of property

Mortgagor: the person borrowing the money from the Bank to purchase the property

Offer: The price the purchaser puts to the vendor (usually through a real estate agent) for the property.… Read More

Property Purchase – Is a Survey Report an additional cost or a cost-saving?

There are various enquiries and inspections you should consider undertaking when purchasing a property. One of those is a Survey Report.

What is a Survey Report?

A Survey Report is obtained from a surveyor to establish that the improvements you wish to buy are actually located on the land you are buying and also to establish if there are any encroachments by improvements onto other properties or by improvements onto the land you are buying. A further purpose is to demonstrate that the house is positioned on the land in order to comply with Council’s set back requirements from the boundaries.… Read More

Your Certificate of Title and Identity Fraud

What is a Certificate of Title or eCT?

If you are a home owner, your Certificate of Title (land title deed) is an instrument executed by the Registrar General at the Land Registry Services, and is evidence of your ownership of your property. In 2018, all paper Certificates of Title held by the banks were converted to electronic certificates of title called eCT’s.

Where is the Certificate of Title normally kept?

If your property is mortgaged, your eCT is held by the mortgagee – the person or entity who lent the money to you, for example the Bank.
If you do not have a mortgage, your paper Certificate of Title should be kept in a safe place, for example:

• With your solicitor
• In a safe deposit with the Bank
• In a safe place with your other personal papers

What happens if a Certificate of Title is destroyed or misplaced?Read More

Oh no, where has my money gone! Cybersecurity in property transactions.

With the increased use of online services across all areas of our lives, cybersecurity is extremely important. Particularly in conveyancing transactions where large amounts of money are transferred between accounts.

Email phishing is of particular concern and requires that we all be extra vigilant in dealing with email communications. Phishing is where a criminal impersonates an organisation in order to steal or alter important information.

For example, let’s say you have a property purchase coming up and have been liaising with your solicitor via email. Your email may have already been hacked without your knowledge and the hackers have been tracking those emails.… Read More