Changes to Legal Status – Certificate of Title in QLD
Own land or property in Queensland? Proposed changes to the Land Title Act will affect the way you can show your ownership.
The Queensland Government has recently amended the Land Title Act to end the legal effect and status of Certificates of Title (title deed) for land in Queensland.
What is a Certificate of Title?
A Certificate of Title, or title deed provides you with documentary evidence of your right to the ownership of a property.
Although Queensland has been using an electronic titling system for many years now, a paper title deed could still be used for a number of purposes if the proprietor requested that one be issued.
The main reason that a person would obtain a paper Certificate of Title was to ensure further dealings with the land were not lodged (ie. the transfer of title, and registration of mortgages, leases etc) unless there was a paper title deed deposited with that dealing.
Paper title deeds could also be used as a form of security in a financing agreement to ensure the proprietor of land has complied with its’ obligations (ie. paying back a debt).
The paper Certificate of Title will no longer need to be used to enable dealings with land to be lodged and registered. This change will effectively end the legal status of the physical document. An electronic title will be recorded, stored and managed by the Titles Registry and will be the only point of reference of ownership.
If you own a physical copy of your Certificate of Title for a property, it is recommended that you store it safely until the changes come into effect. After the 1 October 2019, this certificate will no longer hold any legal significance and will not have any value.
From 1 October 2019, property owners will not be able to request a paper Certificate of Title from the Queensland Land Titles Registry (Registry). However, if you own a paper Certificate of Title, you can choose to keep it for sentimental reasons.
Once the physical document no longer has any legal value, it will no longer have any effect or value as a form of security. If you are currently using your physical copy of Certificate of Title as a measure of security, then you must make other arrangements before the changes commence.
Should you have any queries or seek further information, please contact one of our experienced lawyers at CSD Law on 1300 383 486 or email us at email@example.com