The Queensland titles registry has been electronic for over 20 years, but there are still paper titles held by many property owners.
Here are our 5 tips on paper Certificates of Titles.
Do I need a paper certificate of title?
No, since transitioning to an electronic titles registry, a paper certificate of titles is not required. A property owner’s interest in their property is registered on the electronic title of the property, along with all other interests affecting the property, and can be identified by a search at any time.
What do I do with my certificate of title if I am selling my property?
If you are selling property, you must provide your paper certificate of title to your solicitor/conveyancer so that this can be handed to the buyer’s solicitor on settlement. Failure to do so would hold up the sale.
The purchaser then lodges the certificate of title and the associated documents with the Titles Office and the certificate of title will be cancelled and destroyed unless the purchaser requests a paper certificate.
Can I request a new paper certificate of title for my property if one does not exist?
If you purchase a property and there is no paper certificate of title issued for the property, you can request that the Titles Office issue a new paper certificate of title by lodging the required form.
Can I ask for my certificate of title back from the Titles Office?
We understand that some families wish to keep the paper certificate of title for sentimental value for certain land that has been held within a family for many years. If you do not wish to lose the original certificate of title upon registration of a document with the Titles Office, you can complete a request form with the Titles Office for the return of the original certificate of title to you once the documents have registered. When the certificate of title is returned to you it will be cancelled in the land register and will not be required when lodging further dealings with the property.
What happens if I can’t find my certificate of title when I want to sell my property?
If you have misplaced a certificate of title or know that it has been destroyed, there is a process that must be followed to dispense with the production of the certificate of title before documents can be lodged with the Titles Office. This process can be lengthy and costly to you and a period of advertising and obtaining declarations from anyone who may have had custody of the certificate of title. If you are aware that you have lost or destroyed a paper certificate of title for a property, it is important that you make your solicitor/conveyancer aware of this fact as soon as you intend on selling your property as if it is left too late, it can delay the settlement of the sale.
If the above information raises concerns for you, please do not hesitate to contact our friendly staff today to discuss this with you.