Panicking because you can’t find the original paper Certificate of Title for your property or it’s been accidentally destroyed? Don’t stress – with some expert help, you can have the title replaced by the Victorian titles office fairly quickly.
The process
If you own what is known as ‘Torrens title’ land in Victoria and there’s no mortgage on title, then you may have had possession of an original paper Certificate of Title which represents an official record of your ownership over the land.
If the original certificate of title is in paper and not electronic format, it’s important to keep it in a safe place because without it, you can’t sell or transfer your property or obtain a mortgage against it.
Perhaps even more importantly, if someone else gets a hold of the paper certificate of title without your authority, they could fraudulently try to sell the property or obtain a loan against it without your knowledge.
If you have plans to sell or transfer a property (whether in your own name or as an executor or administrator of a deceased estate) and can’t find the original certificate of title despite searching for it high and low, we can help you lodge what is colloquially known as a lost title application with the Victorian titles office, otherwise known as Land Use Victoria.
The requirements for replacing a lost paper title need to be followed accurately so that you get a replacement title issued as quickly as possible (which is especially important if you have an upcoming settlement).
First, we do an issue search to determine if the title is paper or electronic and who last controlled or possessed it.
If it’s electronic, then it isn’t lost. Exhale!
If it’s paper, we can then reach out to any former conveyancer/solicitor or bank on your behalf to see if the original certificate of title can be found without the need for lodgement of a lost title application. If that doesn’t uncover the precious document, we then proceed to prepare and collect all the necessary documentation for the lost title application, including:
The Application for a New Certificate of Title in place of one lost or destroyed;
Statutory declaration/s from all owners detailing your search enquiries and from those previously in possession of the original certificate of title after it was last issued by the titles office;
Verification of the owners’ identity;
A copy of a current Council rates notice evidencing the property’s value; and
An issue search
With our help, what may seem like a useless situation can be quickly resolved and we can have the certificate of title replaced and reissued by the titles office within a matter of weeks!
What does it cost?
[if a missing title application is required] $770 (plus disbursements of approx. $550 depending on how many statutory declarations are required, including the application fee and a $200 assurance fund contribution to the titles office)
[if a missing title application isn’t required and we can locate the title with less than hour’s work] $220 plus the cost of any title and issue searches we do for you (approx. $40).
How long does it take?
It takes us 1-2 days to do the searches prepare the application and all the statutory declarations. If an actual missing title application is required and everyonoe who is needed to provide a statutory declaration is easily locatable and does so quickly and follows our instructions about the correct content, it can take a few weeks to replace a missing title .
To get started, book a chat with Marta or Laura today or email marta@nestlegal.com.au