land titles melbourne are important government businesses that create and maintain a legally-valid audit trail of land ownership, which is vital to property market operations and to the delivery of essential public services such as infrastructure engineering or emergency management. Privatisation of these businesses is a big risk and could have unforeseen consequences.
The Victorian land title system is based on Torrens title and the Registrar of Titles registers all freehold land transfers, changes of ownership, mortgages and subdivisions. The Registrar also manages the State guarantee to title under the Torrens system. Paper Certificates of Title can be replaced by an electronic Certificate of Title (eCT). The eCT can be issued directly by the Registrar of Titles or through an endorsement to a paper eCT. The eCT is the primary means of proving ownership of Torrens title land.
Navigating Conveyancing in Victoria: Melbourne’s Essential Property Guide
If you have a mortgage over your land, the paper Certificate of Title will be held by the person who loans you money, which is often your bank. Banks have now converted all their paper Certificate of Titles to an electronic form and the eCT will be held by your bank or the bank’s lawyer.
Most of the eCTs are now issued for new development titles, which are usually based on the Strata title system introduced in NSW in 1961. This system allows apartment and townhouse owners to share ownership of common spaces, such as stairs, hallways and swimming pools, while still retaining ownership of their own apartments.