Property Title Information
A title is evidence of ownership of land and contains the details
about the property in order to identify it. Common property ownership
- Torrens Title system where a Certificate of
Title exists for every separate piece of land. It contains a reference
that consists of a volume and folio number, ownership details,
easements and/or rights of way affecting the land and any encumbrances
(e.g. mortgages, caveats, leases and other interests in the land).
The Torrens System of land registration was introduced in 1862.
- Strata Title for units/multi dwellings, where
the building or land is divided into allotments and common areas
by a strata plan referred to as a strata title.
- Company Title for units/multi dwellings where
owners are shareholders in a private company. This is an older
form of title which allows owners exclusive use of their dwelling
in a multi-dwelling complex. The rights of shareholders are governed
by a Memorandum of Articles and Association which frequently dictate
terms to which shareholders must comply, such as whether leasing
is allowed or not. The sale or transfer of your shareholding generally
requires the approval of the majority shareholders.
- General Law Land/Old System
Is the land granted by the Crown between 1838 and 1862 that has
not since been brought under the operation of the Transfer of
Land Act 1958. There are still some properties under this title.
The title to this land is not guaranteed. The General Law title
comprises of a series of deeds showing ownership and encumbrances.
The chain of Deeds must be produced when General Law land is dealt
with. Properties still under Old System are converted to Torrens
Title system when a sale/transfer occurs.