Purchasing a home. Can I be assured that I will be recorded as the owner of the property?

We will do all we can!

At present, a Certificate of Title search will not reveal the past registrations. It is important therefore, to ensure that once a search is done that either a Caveat be lodged or a Settlement Notice be lodged with the Department of Environment & Resource Management (Titles Office) to reduce the risk of fraud.

The procedures to effect a settlement are greatly affected by not having a "paper" Certificate of Title as there is a heightened concern as to the likelihood of fraud in the market place by unscrupulous Sellers. No doubt you may have read articles in the newspaper about such events. Therefore, it is essential where a Certificate of Title has not issued that a Caveat or Settlement Notice be lodged to protect your interest, primarily for the period between when we have conducted the searches on the property and the lodgement of your transfer documentation.

The lodgement of a Caveat is more expensive than a Settlement Notice but provides total security. A Settlement Notice is similar to a Caveat in that it prohibits any dealings to be registered over the Certificate of Title, however it allows for registration of the documents nominated by the lodger.

It will remain over the Certificate of Title for a period of sixty days at which time it will lapse or alternatively, it will be automatically removed upon the lodgement of the relevant transfer. Should there not be a current Certificate of Title over the property your financier will insist on a Settlement Notice being lodged.