News.

06 Jan 2023

Talking Torrens Title

 

The house and land packages currently for sale at Oaklands Green are offered as Torrens Title properties.  But what exactly is that and what does it mean for you?

 

The Torrens Title System was first introduced in SA in 1858 and subsequently used in other Australian states and around the world. Torrens Title is named after its inventor, Sir Robert Richard Torrens, who was instrumental in the implementation of this unique and efficient system of dealing with land.

 

The main object of the Torrens Title System is to make the register conclusive. Once your name is registered on the Torrens Title register, you become the owner of the property to the exclusion of all others. You therefore obtain ‘title by registration’, which is a pivotal concept of Torrens Title.

 

Under the system, a Certificate of Title exists for every separate piece of land. The certificate contains a reference that includes a volume and folio number, ownership details, easements and/or rights of way affecting the land and any encumbrances including mortgages, leases and other interests in the land.

 

Torrens Title is useful because it eliminates grounds for most dispute litigation, avoids the consequences of lost certificates and greatly reduces the costs of land sale and transfer. People can change the Torrens Register through lodging and registering a ‘dealing’.

 

There are other benefits to Torrens Title.  These include…

 

Sole ownership

 

Owning a Torrens Title property means you own the building and land. That comes with the benefit of freedom to renovate, rebuild, or add to the existing structure.

 

Repairs

 

If the property needs repairs or maintenance, it is up to you when and how it is done. For example, you may be able to fix something yourself, or wait until you can afford it before acting on it. In a strata property, repairs and maintenance may occur regardless of your financial situation and requires a committee or management team deciding who does it.

 

Pets

 

There are no restrictions on adding a fur baby to your home when you are the sole owner.

 

Privacy

 

Torrens Title properties usually offer greater privacy and space from neighbours than strata title properties.

 

So, there’s much to like about Torrens Title and even more to like about making a fresh start at Oaklands Green!

 

Sources: realestate.com.au and REISA

 

To find out more about what’s on offer at Oaklands Green, please contact our Project Team Leader, Richard Joy – richardj@connektup.com.au.

 

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Alternatively, please call us or email us at:
Mobile: 0439 504 440 or
Email: richard@oaklandsgreen.com.au

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