hi, my family has a property that was transferred (sold) to their company name in 1981, i have the contract of sale with State revenue stamp, witnesses, etc.
I also have the Land Title certificate and the date of transfer is 1988, 7 years after the fact…
does anybody have a clue on how or why this could happen?
thanks in advanced
cheersSuch a delay does appear to be unusual, I would suggest you refer to the solicitor/conveyancer that prepared and lodged the Transfer etc or if there was a Loan/Mortgage involved refer to your lender who may have lodged the Transfer with their mortgage
It’s not that unusual. In my bank days I’ve collected security packets (where titles/ contract etc are held) when increasing a loan or releasing a title – and long behold there is the original transfer and mortgage – woops… Never lodged. Do a title search and the property is still in the vendors name from years earlier…
I wouldn’t read to much in to it. Like all industries mistakes happen. The title is safe in the banks security area, they have the originL transfer and mortgage – we just looked like dumb asses registering it with th title office years later…
Excuse my spelling – I’m typing on my phone…
thank you both for your input, my concern was the date of the transfer on the title – which is post Capital Gains Tax (sept 1985) as the property has appreciated somewhat since then. I have since found out that the land transfer documents show the sale contract dated in 1981, so the property is classed and pre 1985…phew!!!
cheersI went to sell a property once and found out it had never been transferred into my name! 2 years after the fact. ANZ bank never registered the transfer.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Just as bad is when the bank fails to discharge the mortgage so there are caveats all over the title.
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