Saturday, February 19, 2011

Can you please provide an accurate definition of 'Torrens ti

Question: Can you please provide an accurate definition of 'Torrens title' with regard to property for sale?

From: Marita

1 comment:

Anthony Toop said...

Hi Marita,

Thanks for you enquiry. Good question, a lot of people are confused by the term and you've done the right thing by asking for an accurate definition.

I guess there's a lot that can be talked about on Torrens Titles...firstly, there are three main titles. These are Community Title, Strata Title and Torrens Title - Torrens Title is the preferred style of titling.

In simple terms, a Torrens Title is a single dwelling on its own allotment with no encumbrance from or to any other property. With Strata Titles & Community Titles, there are set restrictions in place which can act as restraints.

If you own or buy a home that is Torrens Titled, it means you have the freedom to do with it as you please, without needing approval from the community or a strata board - if you want to paint your awnings purple, you can!

Hope this helps.