Title Traps and Tips

I‘m always on the lookout for articles with the potential to positively change a business. What’s your take on the following points I came across recently?

Housing is considered safe because it’s not a “take it or leave it” type of investment like shares or savings.

Whether or not we are property investors, we all need a place to call home and private land ownership satisfies our need for security. Our right to buy or sell property is given to us under common law and expressed in permanent property titles.

But this brings us to a contradiction – our title systems are based on the ownership of land, while the housing market is about what’s on it, such as a house or block of home units. We don’t actually buy these improvements; they come with the land they are on. The land authorities register and transfer land ownership under several different title systems and because each system is different, there are many hidden traps lying in wait for unwary investors when it comes to buying, owning and selling property in Australia. On the other hand, these differences can also offer lucrative opportunities to informed investors who understand and make use of them.

TITLES CAN COME WITH CONDITIONS 

Not only is it essential to ensure that the dwelling and other improvements such as fences and sheds are correctly located within the boundaries of a property, there are often restrictions and warnings called caveats and encumbrances which have been placed on titles by previous owners and other third parties with an interest in the property, such as lenders and utility service providers.

I’d be really interested to know your opinion. Check out the full article here and then I’d be happy to discuss with you by phone (0403) 296-221 or email [email protected]

Thanks,

Tammie