From: Marita
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?
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1 Answers:
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.
Thanks,
Anthony
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