The Transfer is an important document in the settlement process and completing it properly is vital to ensuring a smooth settlement. There are many common errors we come across when dealing with Transfers which can delay settlement, incur requisition fees or cancel settlement altogether. Here are the top 10 most common mistakes we see and how to avoid them.
Mistake 1: Omitting the number of Titles references
Where: Top left hand of Transfer
You must indicate the number of Title references on the Transfer. The Transfer must be stamped and the correct EDR details added. Corrections will require referral to OSR and an alteration stamp. For example, A/**** and B/**** equals two titles under OSR stamping transaction.
Mistake 2: Not using the full title description
Where: Section (A) Torrens Title
You must us the full correct title description on the Transfer. Any corrections will require alteration stamp. For example, A/***** and B/**** – CANNOT be A, B/***** or A/DP****.
Mistake 3: Discrepancies in transferor name
Where: Section (C) Transferor
The transferor’s name must be recorded exactly as recorded on title. An alteration stamp may be required to make amendments. For example, *** **** No. Pty Limited, the . must be recorded or LRS will requisition.
Mistake 4: Omitting tenancy details
Where: Section (I) Tenancy
You must record details of the tenancy agreement, either Joint Tenants or Tenants in Common. For example, if it’s a tenancy in common, you must state whether it’s in equal shares or what shares each party holds.
Mistake 5: Missing alteration stamp
Where: All boxes from the top of Transfer to Section (I)
Any amendments to these sections require an alteration stamp.
Mistake 6: Not using the full name and address
Where: Section (J) Certification
You must record the witness’ full name and address. For example, you can’t use Initials, you need to use the full street address, no PO Box allowed, no C/o address allowed, and you must state a postcode and or state.
Mistake 7: Not numbering annexure pages properly
Where: Section (J)/Annexure pages
If section (J) is executed on a follow page or pages, SEE Annexure “A” etc must be recorded. The annexure pages must be numbered correctly – Page 1 of * followed by page 2 of * depending how many pages total.
Mistake 8: Not labelling annexure pages properly
Where: Annexure pages
Full names of Transferor in Section (C) and Transferee in Section (H) must be recorded on TOP of the annexure page or pages.
Mistake 9: Omitting a seal when ‘Common Seal’ is present
Where: Section (J) Certification
If the execution is by a company and the section wording has COMMON SEAL, the seal must be stamped on the document, or the wording crossed out. Otherwise LRS requisition will apply.
Mistake 10: Not completing the agent’s details in full
Where: Section (K) Transferee’s agent
The agent’s details must be completed in full including full name and signature. ONLY one ENOS per document (not per title reference). A licensed conveyancer cannot be recorded as a solicitor. If ENOS is substituted by Blue NOS, details must be crossed out.
For more information on completing Transfers, see the Registrar General’s Guidelines. If you need help with settlement, registration, stamping or other services, visit our services page or log on to your InfoTack account to book instantly.
