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Cancellation of Certificates of Title by NSW Government
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From 11 Oct 2021, paper Certificates of Title will no longer be issued by NSW Land Registry Services. This video contains useful information about the transition as well as some resources and an email address to email if you have any questions.
The NSW Government will be making several changes to the land titles system to transition conveyancing from paper to digital. From 11 Oct 2021, paper Certificates of Title will no longer be issued, and existing Certificates of Title will be cancelled.
Current property owners or interested buyers do not need to do anything as legal ownership details are already in the Torrens Title Register. The Register will continue to be the single source of truth for land ownership in NSW.
Removing the need for paper Certificates of Title to settle a property purchase marks the final step for conveyancing in NSW becoming completely digital and will:
• simplify the process
• reduce the risk of settlement delays
• reduce the risk of errors and fraud in the conveyancing process.
Real estate agents should be aware that sellers and buyers will no longer be able to act for themselves and will need a lawyer or conveyancer to complete property transactions. When listing properties, a title search will be needed rather than a Certificate of Title.
The NSW Government is introducing changes to transition the conveyancing process from paper to digital. The ‘eConveyancing’ process will be more secure and efficient, and no longer rely on paper Certificates of Title.
This will simplify the settlement process and reduce the risk of delays when selling a property. A person’s legal ownership details are recorded on the Torrens Register. This will continue to be the single source of truth for land ownership. The details recorded on the Register are guaranteed by the State. From 11 Oct 2021 a Certificate of Title will no longer be a valid legal document and won't be needed for any land transaction.
The cancellation of Certificates of Title marks the final step for conveyancing in NSW becoming completely digital. Removing the need for paper Certificates of Title to settle a property purchase will:
• simplify the conveyancing process
• reduce the risk of settlement delays
• reduce the risk of errors and fraud in the conveyancing process.
Changes to the land title system:
On 11 Oct 2021, new changes to the land titles system in NSW will be introduced that will transition NSW away from paper-based processes.
The Real Property Amendment (Certificates of Title) Act 2021 makes several changes to legislation, importantly allowing for the cancellation of certificates of title (CTs) and progressing NSW to 100% electronic lodgment of land transactions.
There are two significant changes from 11 Oct 2021:
- the cancellation of CTs and the control of the right to deal (CoRD) framework; and
- all land dealings must be lodged electronically. This is referred to as ‘100% eConveyancing’.
The impact on landowners (3 main changes) as compared to the current practice are:
1. Those who pay off their mortgage will not receive a CT as was traditionally the case.
2. A purchaser of property without the need for a mortgage (aka “cash-buyer”) will not receive a CT.
3. When a plan of subdivision is registered, and new parcels of land created, CTs (or CoRD) will no longer be issued for those parcels.
In all instances an Information Notice will issue, which will confirm the dealings registered and date of registration.
Landowners of unencumbered land (i.e. no mortgage) who have a CT don’t have to do anything before or after 11 Oct 2021. After this date the CT will no longer be a legal document.
Landowners with a CT who plan to deal with their land in the next six months should hold onto the CT, even after 11 Oct 2021. This is because a transaction may begin before this date, but not yet be finalised. In this case, the CT may be needed to satisfy requisitions or other administrative notices that were issued before 11 Oct 2021.
Those who own unencumbered land, but have someone else holding or storing their CT, may wish to request to have it back. From 11 October 2021 there will no longer be a remedy under the Real Property Act 1900 to get a CT back from others, given it has no legal effect.
About Nithin:
Nithin Salgunan is a Licensed Real Estate Agent with Move Realty. Nithin has more than 14 years of experience in the Industry. He can assure you a life changing positive experience for all your Real Estate transactions
The NSW Government will be making several changes to the land titles system to transition conveyancing from paper to digital. From 11 Oct 2021, paper Certificates of Title will no longer be issued, and existing Certificates of Title will be cancelled.
Current property owners or interested buyers do not need to do anything as legal ownership details are already in the Torrens Title Register. The Register will continue to be the single source of truth for land ownership in NSW.
Removing the need for paper Certificates of Title to settle a property purchase marks the final step for conveyancing in NSW becoming completely digital and will:
• simplify the process
• reduce the risk of settlement delays
• reduce the risk of errors and fraud in the conveyancing process.
Real estate agents should be aware that sellers and buyers will no longer be able to act for themselves and will need a lawyer or conveyancer to complete property transactions. When listing properties, a title search will be needed rather than a Certificate of Title.
The NSW Government is introducing changes to transition the conveyancing process from paper to digital. The ‘eConveyancing’ process will be more secure and efficient, and no longer rely on paper Certificates of Title.
This will simplify the settlement process and reduce the risk of delays when selling a property. A person’s legal ownership details are recorded on the Torrens Register. This will continue to be the single source of truth for land ownership. The details recorded on the Register are guaranteed by the State. From 11 Oct 2021 a Certificate of Title will no longer be a valid legal document and won't be needed for any land transaction.
The cancellation of Certificates of Title marks the final step for conveyancing in NSW becoming completely digital. Removing the need for paper Certificates of Title to settle a property purchase will:
• simplify the conveyancing process
• reduce the risk of settlement delays
• reduce the risk of errors and fraud in the conveyancing process.
Changes to the land title system:
On 11 Oct 2021, new changes to the land titles system in NSW will be introduced that will transition NSW away from paper-based processes.
The Real Property Amendment (Certificates of Title) Act 2021 makes several changes to legislation, importantly allowing for the cancellation of certificates of title (CTs) and progressing NSW to 100% electronic lodgment of land transactions.
There are two significant changes from 11 Oct 2021:
- the cancellation of CTs and the control of the right to deal (CoRD) framework; and
- all land dealings must be lodged electronically. This is referred to as ‘100% eConveyancing’.
The impact on landowners (3 main changes) as compared to the current practice are:
1. Those who pay off their mortgage will not receive a CT as was traditionally the case.
2. A purchaser of property without the need for a mortgage (aka “cash-buyer”) will not receive a CT.
3. When a plan of subdivision is registered, and new parcels of land created, CTs (or CoRD) will no longer be issued for those parcels.
In all instances an Information Notice will issue, which will confirm the dealings registered and date of registration.
Landowners of unencumbered land (i.e. no mortgage) who have a CT don’t have to do anything before or after 11 Oct 2021. After this date the CT will no longer be a legal document.
Landowners with a CT who plan to deal with their land in the next six months should hold onto the CT, even after 11 Oct 2021. This is because a transaction may begin before this date, but not yet be finalised. In this case, the CT may be needed to satisfy requisitions or other administrative notices that were issued before 11 Oct 2021.
Those who own unencumbered land, but have someone else holding or storing their CT, may wish to request to have it back. From 11 October 2021 there will no longer be a remedy under the Real Property Act 1900 to get a CT back from others, given it has no legal effect.
About Nithin:
Nithin Salgunan is a Licensed Real Estate Agent with Move Realty. Nithin has more than 14 years of experience in the Industry. He can assure you a life changing positive experience for all your Real Estate transactions
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