From 3 August 2024, Land Use Victoria stopped issuing paper certificates of title. This is the next phase in Land Use Victoria’s journey towards creating an electronic future for the Register of Land.
The transition to electronic certificates of title in Victoria
Since 2000, Land Use Victoria has been on a journey to create an electronic-ready Register of Land.
The transition to electronic certificates of title has been underway for some time, accelerated by the COVID-19 pandemic, which necessitated more remote and digital solutions. Most certificates of title have already been converted to electronic titles.
As of 3 August 2024, the titles office will no longer issue new paper certificates of title. All property dealings (e.g., sale, purchase, discharge of mortgage) registered after this date will be recorded electronically, and electronic control of the certificate of title will be issued to the relevant Electronic Lodgement Network Operator (ELNO).
How does an electronic certificate of title work?
Example 1 – new purchase after 3 August 2024
Joe Smith purchases a property with a mortgage loan. His purchase settles on 4 August 2024. Once settlement occurs, Joe Smith will be noted as the proprietor on the title, and electronic control of that title will be issued to the bank from which he obtained the mortgage.
Example 2 – transfer of property with an original paper certificate of title
Jane and John Doe purchased their property 10 years ago with no mortgage and have the paper certificate of title stored safely in their home.
They decide to transfer their property from both names to just Jane’s sole name and engage a law firm to assist with this transfer.
Once completed, Jane will be noted on title as the sole proprietor, and electronic control of the certificate of title will be issued to the law firm that assisted with the transfer.
What do land and property owners need to do?
Land and property owners do not need to take any immediate action.
Conveyancing firms, law firms and banks are all aware of these changes and will hold the electronic certificate after the registration of new dealings.
All existing paper titles will remain valid until they are next required for a conveyancing transaction. That is, until you need to register any transactions related to your property, no action is required by property and land owners.
Any existing paper certificates of title should continue to be stored securely until needed.
Benefits of electronic certificates of title
- Security: Electronic titles reduce the risk of loss, theft, or damage that can occur with paper certificates.
- Efficiency: Electronic processing speeds up transactions, making property dealings quicker and more efficient.
- Accessibility: Authorised parties can access electronic titles more easily, streamlining processes like transfers and mortgages.
- Environmental impact: Reducing the reliance on paper aligns with broader environmental goals and reduces waste.
Queries about the current status of your certificate of title?
If you require more information or have any concerns, contact our staff at David Davis & Associates. We are here to assist you with any queries regarding your certificate of title and the transition to electronic titles.
Contact David Davis Lawyers
Phone: 03 9014 1299
Email: admin@ddavis.com.au
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