Richard, post: 376688, member: 833 wrote: Radu I've had only a couple of instances here (Tas) and I never learned final outcome.
But I understand it was about $300-400 for a one-off fee.
I had a solicitor I know well who rang and asked for an idea of an ident survey.
I knew the area well, very recent subdivision, excellent aerial photography, not Google, and it was obvious there was encroachment of improvements onto the neighbouring Crown land.
It would have been dead easy to check on ground from original survey.
I think I suggested $600 to check and report.
They declined favouring Title Insurance.
Solicitor wasn't impressed and whilst I didn't need a job, I felt ticked off for their attitude.
If I was the insurers I'd not give them a bean.Is TI common over yonder?
Richard the state treasurer wants to privatise our LTO .. Am currently preparing something for publication in SOZ and add here.
RADU, post: 377086, member: 222 wrote: Richard the state treasurer wants to privatise our LTO .. Am currently preparing something for publication in SOZ and add here.
I would say that anyone who wants to replace an organized land titles registry office with title insurance of the sort that it has devolved to in the US is insane or in the pocket of the commercial interests.
I do quite a bit of work on the claims side of the land title insurance industry, i.e. helping title insurers figure out exactly what they insured, and can tell you that in the long run excepting matters that a survey would disclose from coverage is the only sustainable model. What that means is that you will be able to buy a title insurance policy that guarantees that your vendor owns some quantum of land somewhere, but not where it is, what shape it is in, or any other question that is most relevant to the use of the land.
RADU, post: 377086, member: 222 wrote: Richard the state treasurer wants to privatise our LTO .. Am currently preparing something for publication in SOZ and add here.
Gulp and Gulp again.
Oh dear!
Expect other states will be watching with fervour as there's a willingness to divest themselves of public agencies such as these.
Keep us posted.
There's some things I've always held belong firmly in Government hands.
Problem is there's always room for improvement but the ears that listen hear from those with influence how those with influence can fix the issues and make money by giving them the ownership.
Rather than seeing solutions and working within the organisation to correct and enhance existing structure.
My 2 bobs worth at moment.
Richard, post: 377099, member: 833 wrote: Gulp and Gulp again.
Oh dear!
Expect other states will be watching with fervour as there's a willingness to divest themselves of public agencies such as these.
Keep us posted.
So, will automobile, truck and boat titles also be merely subject to casualty insurance against loss from some vendor who fails to disclose a lien or that the same arren't actually his to sell in the first place? Why start with land. Start with cars and trucks and see how that works out.
NSW LTO in process of being privatised ! Vic and SA looking at it ! I will drop a piece ihave written in a new thread !
Sa govt treasurer says sale contingent on retaining indispensability of title and government assurance fund.
He has a oversees company preparing scoping study . Apparently Canadian Province of Ontario was privatised in 1990's
RADU