New Directions Issued by the Recorder of Titles
The Recorder of Titles has issued new directions under section 160A(2) of the Land Titles Act 1980. These directions will impact conveyancing and those purchasing, selling or otherwise dealing with property in Tasmania from 7 March 2024.
There are three main changes. These are the requirement for:
1. client authorisation;
2. verification of identity; and
3. verification of the right to deal.
Client Authorisation
From 7 March 2024 clients who are selling, purchasing or otherwise dealing with property in Tasmania will be required to authorise their representative to act on their behalf. The Land Titles Office provides this authorisation by way of a prescribed form. This will authorise your lawyer or conveyancer to –
a. sign documents on your behalf;
b. submit or authorise submission of documents for lodgement with the Land Titles Office;
c. authorise any financial settlements in the transaction; and
d. do anything else necessary to complete the conveyancing transaction.
Verification of Identity
From 7 March 2024 clients dealing with property in Tasmania will be required to provide documentation to their solicitor or conveyancer that verifies their identity. Conveyancing and law firms in Tasmania will either have to verify the identity of their clients themselves or use a third party to do so in order to satisfy themselves that the client is in fact who they say they are.
Clients will be required to provide identification documents such as their driver licence and passport. Other identification documents such as a birth certificate, visa or marriage certificate are acceptable, but it is best practice for clients to provide their driver licence and passport in the first instance.
Verification of the Right to Deal
Conveyancing and law firms in Tasmania will be required to satisfy themselves that the identified client does in fact have the right to deal with the property involved in the transaction from 7 March 2024. This may include providing a copy of rates and land tax notices, a copy of the current insurance policy or a copy of probate if the client is acting as an executor of an estate.
Lawyers and conveyancers will have to take reasonable steps to ensure each of the above requirements are complied with and completed and although these directions may require some change from firms and clients dealing with property in Tasmania they will provide additional protection from fraudulent transactions.
