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Where’s my title deed? (perhaps it’s a non-issue)

By in Buying

It’s been a month since you completed settlement of your new home.  You’ve unpacked, finalised all accounts and settled in.  But you still can’t relax – you haven’t received your title deeds.

Landgate registration

Once settlement is complete, documents are immediately lodged at Landgate to transfer the property into your name as buyer. Generally, Landgate will complete examination and registration of the documents within a few weeks.  If everything is in order, registration will take effect from the date of lodgement.

Certificate of title

Upon registration, Landgate will publish a new version of the certificate of title for the property*. Often this is referred to as Landgate issuing the title.  If there is a mortgage on your property, Landgate will send the new title to your mortgagee (eg bank) to be held as security for your loan. If there is no mortgage, Landgate will send it to your settlement agent or settlement lawyer who will give it to you, or otherwise deal with it in accordance with your instructions. You should keep the new title in a safe place.

Non-issue titles

Many buyers now wisely request Landgate not to issue a new certificate of title, a so-called non-issue title. You may do this simply by signing a panel on the transfer of land document prior to settlement.

There are good reasons to request a non-issue title including:

  • no need for safekeeping;
  • avoid the risk of a lost or damaged title – an application for new title can be costly and cause delay in settlement and sleepless nights!

Queries?  Contact us, your independent settlement lawyers.

*Footnote: a certificate of title is known by other names, such as “title deeds”.  The correct name is in fact Duplicate Certificate of Title. The original certificate of title is always held at Landgate.

 

 

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