From 11 October 2021, the following changes will take effect to the titles system in NSW:
- the cancellation of paper certificates of title and the control of the right to deal (CoRD) framework; and
- all land dealings must be lodged electronically.
The above will mean that:
- existing certificates of title cannot be required to be produced to have a dealing or plan lodged for registration; and
- Authorised Deposit-Taking Institutions, such as banks, will no longer be issued with CoRD, which is the electronic equivalent of a certificates of title.
The impact on owners of the cancellation of paper certificates of title will include:
- Those who pay off their mortgage will not receive a certificate of title as per previous practice.
- A cash purchaser of property will not receive a certificate of title.
- When a plan of subdivision is registered, certificates of title (or CoRD) will no longer be issued for any new parcels created.
Instead, an Information Notice will be issued confirming the dealings registered and date of registration.
The NSW Land Registry Services has required consolidation or change of by-laws forms, and change of address forms for owners corporations or associations to be lodged electronically through the PEXA service since 22 March 2021. As there will no longer be paper certificate of titles, it is expected that applications for replacement certificates of titles will become redundant from 11 October 2021.
To register documents electronically, you must be a subscriber to PEXA. Kerin Benson Lawyers is a subscriber to PEXA and is experienced in registering documents using PEXA.
Please contact us for more information on our fees to register documents electronically for you.
Authors: Jasmin H.Singh and Allison Benson