Categories for Reform

New type of Title, what is a Leasehold scheme, Title, and Reversionary interest

27/5/2020
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The introduction of the new Strata Title Act Amendment has led to the creation of Leasehold Schemes and Titles in WA. A leasehold scheme includes a subdivided underlying title with a reversionary interest and leasehold strata titles. A Leasehold Title is a portion of the subdivided land that acts the same as a freehold parcel for the duration of the leasehold scheme (20-99 years). Reversionary interest relates to the right of the owner of the underlying title. It allows them...

WA Certificates of Title to become redundant

27/11/2019
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How the WA State Government is making it easier for property owners to fast track their settlements and refinancing The WA state government via Landgate has put forward a bill that has made your PAPER Duplicate Certificate of Title (record of your property ownership) invalid. What does this mean for WA property owners? The proposal is to make e-conveyancing or digital settlements and refinances easier for those people that have lost their duplicate Certificate of Titles. Previously clients without these...

Strata Titles Act Reform update

11/7/2018
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Milestone achieved!The most significant changes to strata in over 20 years have been confirmed following the passage of the Strata Titles Amendment Bill 2018 and the Community Titles Bill 2018 on 1 November 2018 and 6 November 2018 respectively.What happens now?Landgate’s focus will now be on completing the regulations to support the amended Strata Titles Act 1985 and the new Community Titles Act 2018. Landgate will continue consulting with public, government, industry and community stakeholders on those regulations.How to stay informedFor further information on the reforms, refer...

Transfer of Land Act brings changes

12/6/2018
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The amendments to the TLA have achieved a second reading in Parliament.This Bill aims to amend three key areas of the Transfer of Land Act 1893 (TLA). It:1. Modifies the definition of counterpart documents to improve the processing of mortgages electronically;2. Enables electronic service of many types of notice under the TLA; and3. Removes duplicate certificates of title from the conveyancing process, resulting in greater ability to conduct land transactions in a fully electronic environment.In its submission to Landgate AICWA called for...

Millennials are the NOW wave

1/5/2018
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Changing the business mindset from Boomer property consumer to Millennial property consumer, is here, Don’t lose sleep,  this article might be of assistance. By: BekHayes Conveyancers – are you meeting the needs of your Millennial clients? By Bek Hayes, CEO AICSAOne of the largest generations in history is about to move into its prime spending years. Millennials are poised to reshape the economy; their unique experiences will change the way we buy and sell, forcing companies to examine how they do...

Purchaser’s obligation to pay an amount for GST on taxable supplies of certain real property

27/4/2018
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LCR 2018/D1Purchaser’s obligation to pay an amount for GST on taxable supplies of certain real property “Schedule 5 of Treasury Laws Amendment (2018 Measures No. 1) Act 2018 (the Act) introduces provisions that require a purchaser of certain types of real property to make a payment to the Commissioner that represents the GST payable by the vendor. As a consequence, the purchaser then does not have a liability to the vendor for that amount.  Subject to certain exclusions a purchaser’s liability...