Earlier this year we announced that the Registrar General of NSW had formally announced changes to the land title system in NSW. These changes came into effect from 11 Oct 2021.
These changes have implications for mortgagees, their security interests and their ability to prevent other parties from legitimately or illegitimately dealing with the property whilst the mortgagee’s mortgagee remains registered on title.
The Amendment to the Real Property Act 1900 (NSW) permitted the Registrar General to declare that all existing Certificates of Title for NSW properties will be cancelled, no new Certificates of Title will be issued and Certificates of Title will cease to exist. From now, all dealings with NSW real property must be in electronic form and lodged through an ‘eConveyancing’ system. Following registration of a dealing, an Information Notice will be issued confirming the registration.