Lost Certificate of Title
Written by Omruye Koyu
A Certificate of Title is your record of interests and rights over a piece of land. The Registrar of Titles issues this document, confirming your ownership of the property.
The Certificate of Title outlines the date the certificate was issued, and all other registrations and recordings made by the Register. This includes the names of owners and other interests such as mortgages, covenants and caveats.
A misplaced or lost Certificate of Title will therefore need to be replaced before any transactions can proceed.
At Ferraro & Company, we can assist you to apply for a replacement of a destroyed or lost Certificate of Title.
What is the procedure to replace a lost certificate of title?
1. An Application for a New Certificate of Title in place of one lost or destroyed (also known as Form 31TLA) will need to be completed.
2. A completed and signed statutory declaration is required from all the owners, outlining in detail what happened to the lost Certificate of Title after it was issued by Land Victoria. Additionally, a statutory declaration is also required from each party that has had possession of the Certificate of Title since it was issued, detailing what they did with the lost Certificate of Title.
3. A copy of the issue search is required when lodging the application.
4. Evidence of the property’s value is required, such as council rates notice, a valuation from a registered Real Estate Agent, or a copy of the contract of sale.
What are the fees that are involved?
Land Victoria charges a fee when lodging an Application to replace a Certificate of Title lost, destroyed or obliterated. Currently that fee is $197.00. Additionally, there is also the Assurance Fund Contribution fee that will need to be paid. As of 1 March 2020, the assurance contribution required when a paper Certificate of Title is replaced is fixed at $200.00, payable at lodgment.
Once the Application has been lodged, land Victoria cancels the lost Certificate of Title and issues in its place a new Certificate of Title.
You can find more information from the land Victoria website, or by contacting us for further assistance.