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All things avocado (thread); Thinking of giving up the smashed avo and coffee to buy a house?
Topic Started: 1 Jun 2017, 01:06 AM (15,884 Views)
Ex BP Golly
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Matthew
9 Jun 2017, 02:13 AM
However what you are alluding to are the registration papers. The "registration papers" of our properties (our rates water, council and land tax (where applicable) and property title) are all in our name.

If I tried to sell one of my cars (owned by my employer) I would need to produce the rego papers. With these not in my name let alone my possession, I would fail to have to proceeds transferred directly to me.

Equal to our houses.

Storming around with a physical piece of paper in this day and age is as irrelevant as you are

What's with the trolls on this site that they argue that a "certificate of title" is not important?

It is your proof of ownership.

Do you really not understand that?


Edit:

I know Shadow has you all believing all sorts of shit, like banks Terms and Conditions being meaningless, and changes to the title system meaning you don't need to have a "certificate of title".

He is full of shit.

The fact you all spout this shiite proves none of you own property, none of you understand property, and none of you are property investors.


Banks don't need to hold titles, sure. They have forced changes to the system to save them money.

But individual property owners are required to hold certificates of title of they want to: exchange land, put a mortgage over the property, place an easement over the property, Grant a right of way over the property, subdivide the property, change the e-Plan for the property etc.

See for example:


Production of a Certificate
of Title
and other specified
documents for an ePlan
lodgment

Clause 21A(5) of the Conveyancing (General)
Regulation, 1998 (and also similar clauses in other
appropriate regulations)
states that:
‘The following original documents must be
produced and lodged by hand at the office of
the Registrar General, and may not be lodged
electronically:
(a) such certificates of title, deeds, office copies
of court orders, powers of attorney and
statutory declarations as the Registrar-General
may require,
(b) a completed statement of title particulars in
the approved form, if required by the Registrar-
General,
(c) a primary application and associated
documents, if required by the Registrar-General,
(d) such consents in writing to the registration of
the plan signed by a lessee, caveator, judgment
creditor or other person, as may be required by
the Registrar General,
(e) any other original documents that may be
required by the Registrar General.’

These original documents are not required to be
with the Registrar General when the plan is lodged
but must be in his possession before the plan will
be registered.


How do I produce Certificates of Title
or other documents such as statutory
declarations for connection to an ePlan
lodgment for registration?


1. By hand at the LPI Queens Square Office
At any time: LPI provides a facility by which a party
(such as a mortgagee) in possession of a Crown Grant,
Certificate of Title, old system deed or other document
can give temporary custody of the document to the
Registrar General. The document will be produced for
the purpose of registering a request, dealing or plan
that has been or will be subsequently lodged. When the
registration action has been completed the document
or issuing Certificates of Title will usually be returned to
the producing party. A production fee is charged for this
service.
Following lodgment of the plan: The Crown Grant,
Certificate of Title, old system deed or other document
can be presented at the client services counter,
along with a covering letter in the attached form, for
connection to the plan. No fee is charged for this service.
2. By post (registered mail)
Upon lodgment of the plan and receipt of the plan
number, the documents can be posted to:
Distributions Officer
Titling and Plan Services
Land and Property Information NSW
GPO Box 15
Sydney 2001
http://www.lpi.nsw.gov.au/__data/assets/pdf_file/0004/40666/ePlan_production_ct.pdf








In relation to Electronic Certificates of Title you will note the following:

"Currently eCTs are only available to:

APRA regulated financial institutions who hold a registered first mortgage and are PEXA subscribers, or are represented by a PEXA subscriber.

Benefits of eCT

Principal benefits of eCTs include:
streamlined processing of electronic transactions in PEXA
reduced CT handling and storage costs
reduced CT printing and delivery costs for LPI."

End quote



From:


Electronic Certificates of Title (eCT)

An eCT means that the bank does not hold a paper certificate of title for the current edition of a folio. Instead the mortgagee is recorded as having Control of the Right to Deal (CoRD) on the Register.
The following text on a land title search indicates that an eCT exists and who controls it:
NO CERTIFICATE OF TITLE HAS ISSUED FOR THE CURRENT EDITION OF THIS FOLIO.
CONTROL OF THE RIGHT TO DEAL IS HELD BY [mortgagee name].
Currently eCTs are only available to:
APRA regulated financial institutions who hold a registered first mortgage and
are PEXA subscribers, or are represented by a PEXA subscriber.

Benefits of eCT

Principal benefits of eCTs include:
streamlined processing of electronic transactions in PEXA
reduced CT handling and storage costs
reduced CT printing and delivery costs for LPI.

eCT and paper dealings, plans and ePlans

When an eCT has issued, the party with Control of the Right to Deal (CoRD) must lodge a CoRD Holder Consent in order to consent to the registration of paper registry instruments, plans and ePlans.
A CoRD Holder Consent is an electronic document lodged via PEXA by the CoRD holder. It must specify details about the dealings and parties involved in the transaction permitted for registration.
Practitioners should complete a Request for CoRD Holder Consent eForm and submit to the CoRD holder to enable processing and lodgment of a CoRD Holder Consent. The request forms are available on the Registrar General’s Directions website.

For information see our fact sheet Attending a paper settlement when the Certificate of Title is in electronic format (PDF 160.6 KB).
More information
For process changes for settlement and lodgment of dealings and plans see LPI Circular 2014-03 (PDF 343.6 KB).
For information on CoRD see the Registrar General’s Directions website.
Our frequently asked questions on the Registrar General's Directions website wil provide answers to common questions on e-Conveyancing in NSW.


http://www.lpi.nsw.gov.au/plan_and_title_registration/national_e-conveyancing_nsw/electronic_certificate_of_title_ect



So....... are you still telling me you don't hold, or exert any control over your certificate of title?

Really lol


Edited by Ex BP Golly, 9 Jun 2017, 11:03 AM.
WHAT WOULD EDDIE DO? MAAAATE!
Share a cot with Milton?
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Matthew
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Ex BP Golly
9 Jun 2017, 10:00 AM
What's with the trolls on this site that they argue that a "certificate of title" is not important?

It is your proof of ownership.

Do you really not understand that?




Where did I say it wasn't important? It is incredibly important. It is the record of my ownership. But that doesn't mean I need to frame it and hang it o the wall, nor wave it around like a trophy. Landgate are a perfectly good storage location.

Quote:
 
So....... are you still telling me you don't hold, or exert any control over your certificate of title?
I have total control over my certificates of title. I have three of them in hard copy form. Don't know where in the house they are, but they are there somewhere.
My only hope for my three boys is that they turn out nothing at all like Chris.
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Rat
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Filthy Rodent

Matthew
9 Jun 2017, 01:30 PM
Where did I say it wasn't important? It is incredibly important. It is the record of my ownership. But that doesn't mean I need to frame it and hang it o the wall, nor wave it around like a trophy. Landgate are a perfectly good storage location.
Golly's printout of his title is his most prized possession. He's been raving about it for years.
Consumer protection laws extended to small businesses. Banks not permitted to repossess due to non-monetary defaults (for example, a fall in the property value).
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Ex BP Golly
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Rat
9 Jun 2017, 01:45 PM
Golly's printout of his title is his most prized possession. He's been raving about it for years.
Not my most prized possession, just one that shows some of my possessions.

And we all know that possession is 9/10th of the law.

You don't hold your certificate of title?



WHAT WOULD EDDIE DO? MAAAATE!
Share a cot with Milton?
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Rat
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Filthy Rodent

Ex BP Golly
9 Jun 2017, 02:11 PM
You don't hold your certificate of title?
The land titles office holds it. They hold yours too. You have a printout, but the official record is stored online.
Consumer protection laws extended to small businesses. Banks not permitted to repossess due to non-monetary defaults (for example, a fall in the property value).
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Blondie girl
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Rat
9 Jun 2017, 02:12 PM
The land titles office holds it. They hold yours too. You have a printout, but the official record is stored online.
The thing is stolen identities can happen.

Fraud and scammers do use methods to collect documents with a forged drivers licence.*(which was in the name of the South African homeowner)

I am aware of a case back in 2013 when documents related to a supposed settlement of a home in Falcon (Mandurah) south of Perth. It involved owners who lived in South Africa. They hade IP's in Perth that were rented and had their identities stolen.


Edited by Blondie girl, 9 Jun 2017, 02:24 PM.
Newjerk? can you try harder than dig up another person's blog. My first promo was with Billabong and my name in English is modified with a T, am Perth born but also lived in Sydney to make my $$
It's Absolutely Fabulous if it includes brilliant locations, & high calibre tenants..what more does one want? Understand the power of the two "P"" or be financially challenged
Even better when there is family who are property mad and one is born in some entitlements.....Understand that beautiful women are the exhibitionists we crave attention, whilst hot blooded men are the voyeurs ... A stunning woman can command and takes pleasure in being noticed. Seems not too many understand what it means to hold and own props and get threatened by those who do.
Banks are considered to be law abiding and & rather boring places yeah not true . A bank balance sheet will show capital is dwarfed by their liabilities this means when a portions of loans is falling its problems for the bank.
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Rat
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Filthy Rodent

Blondie girl
9 Jun 2017, 02:20 PM
The thing is stolen identities can happen.

Fraud and scammers do use methods to collect documents with a forged drivers licence.

I am aware of a case back in 2013 when documents related to a supposed settlement of a home in Falcon (Mandurah) south of Perth. It involved owners who lived in South Africa. They hade IP's in Perth that were rented and had their identities stolen.
Agreed. Holding a printout of his title is giving Golly a false sense of security.

Homes have been sold several times in Australia without the owners permission, however this has only ever happened to homes with no mortgage attached where the owner held an unencumbered title. If the home has a mortgage then it can't be sold without the bank's permission, which prevents scammers from stealing/forging your title documents and selling your home.

That's why even though I'm debt free, I'm still keeping the mortgages against my properties.

It also makes it much easier to reborrow in the future - I can just draw down on the existing loans rather than trying to organise new loans.

A mortgaged home is a secure home.
Edited by Rat, 9 Jun 2017, 02:27 PM.
Consumer protection laws extended to small businesses. Banks not permitted to repossess due to non-monetary defaults (for example, a fall in the property value).
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Blondie girl
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Rat
9 Jun 2017, 02:26 PM
Agreed. Holding a printout of his title is giving Golly a false sense of security.

Homes have been sold several times in Australia without the owners permission, however this has only ever happened to homes with no mortgage attached where the owner held an unencumbered title. If the home has a mortgage then it can't be sold without the bank's permission, which prevents scammers from stealing/forging your title documents and selling your home.

That's why even though I'm debt free, I'm still keeping the mortgages against my properties.

It also makes it much easier to reborrow in the future - I can just draw down on the existing loans rather than trying to organise new loans.

A mortgaged home is a secure home.
There could be a way round that.

Those property owners who don't have mortgages and debt free who get agents to manage their props could get the RE agent to do regular checks on Title status for a small fee?

I have never had issue with organizing loans one after another in the past.. no big deal for a broker to attend in the privacy of home and especially if its the same broker he would be aware of financial requirements..
Newjerk? can you try harder than dig up another person's blog. My first promo was with Billabong and my name in English is modified with a T, am Perth born but also lived in Sydney to make my $$
It's Absolutely Fabulous if it includes brilliant locations, & high calibre tenants..what more does one want? Understand the power of the two "P"" or be financially challenged
Even better when there is family who are property mad and one is born in some entitlements.....Understand that beautiful women are the exhibitionists we crave attention, whilst hot blooded men are the voyeurs ... A stunning woman can command and takes pleasure in being noticed. Seems not too many understand what it means to hold and own props and get threatened by those who do.
Banks are considered to be law abiding and & rather boring places yeah not true . A bank balance sheet will show capital is dwarfed by their liabilities this means when a portions of loans is falling its problems for the bank.
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Ex BP Golly
Member Avatar


Rat
9 Jun 2017, 02:26 PM
Agreed. Holding a printout of his title is giving Golly a false sense of security.

Homes have been sold several times in Australia without the owners permission, however this has only ever happened to homes with no mortgage attached where the owner held an unencumbered title. If the home has a mortgage then it can't be sold without the bank's permission, which prevents scammers from stealing/forging your title documents and selling your home.

That's why even though I'm debt free, I'm still keeping the mortgages against my properties.

It also makes it much easier to reborrow in the future - I can just draw down on the existing loans rather than trying to organise new loans.

A mortgaged home is a secure home.
Not what I've heard. Somee of these homes were mortgaged, and the fraudsters paid of the outstanding debt and cleared the title.







Edited by Ex BP Golly, 9 Jun 2017, 02:44 PM.
WHAT WOULD EDDIE DO? MAAAATE!
Share a cot with Milton?
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Blondie girl
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Ex BP Golly
9 Jun 2017, 02:41 PM
Not what I've heard. Somee of these homes were mortgaged, and the fraudsters paid of the outstanding debt and cleared the title.






I would think that the Police Major Fraud Squad should know that stuff in property scams... especially if its cases some wanting a very very very very quick sale in a short time frame which should involve astute RE agents... not everyone is on the ball but..

The Police would have information but of course no names confidentiality and all...
There would have been some successful and some attempted cases of fraud over the years.
Newjerk? can you try harder than dig up another person's blog. My first promo was with Billabong and my name in English is modified with a T, am Perth born but also lived in Sydney to make my $$
It's Absolutely Fabulous if it includes brilliant locations, & high calibre tenants..what more does one want? Understand the power of the two "P"" or be financially challenged
Even better when there is family who are property mad and one is born in some entitlements.....Understand that beautiful women are the exhibitionists we crave attention, whilst hot blooded men are the voyeurs ... A stunning woman can command and takes pleasure in being noticed. Seems not too many understand what it means to hold and own props and get threatened by those who do.
Banks are considered to be law abiding and & rather boring places yeah not true . A bank balance sheet will show capital is dwarfed by their liabilities this means when a portions of loans is falling its problems for the bank.
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