Browse Forums Home Finance 1 Nov 17, 2007 1:13 pm I subscribe to a few realestate newsletters and here is one that I was never aware of.
Real Estate **. Enjoy. Steve Cars are stolen, bikes are stolen, money is stolen - that is common knowledge. But did you know houses can too be stolen too? While it is near physically impossible for someone to pick up a house and take off with it, housing theft occurs in the way of title **. Although it is rarely reported, title ** does happen. Over the years, I have bought and sold a few homes and the scary thing is I can't ever remember an agent ever asking me for identification. In fact I don't know any agents that do. Buyers and sellers beware - your home can be stolen. Here are some high profile examples. The most notorious case of title ** was, of course, the case where the Australian Rugby Union Headquarters was pretty much stolen in exchange for over $14 million in gold bullion. The crooks claimed ownership of the property by forging the title deeds of 181 Miller Street in North Sydney back in 2006. The authorities only found out in time because the Perth Mint thought it all looked a bit too fishy when 605 one-kilogram gold bars were flown to Sydney. The actual owners had no idea their property had nearly been sold until the police told them. Not all stories end so happily. Earlier this year, the high court handed down a decision that should be sobering for would-be homebuyers and conveyancers. I am referring to the 'Black v Garnock' case which proved that even prudent buyers using a thorough solicitor or conveyancer can still have their dreams desperately shattered. The background to this case is: Contracts were exchanged on the purchase of a rural property. On the day before settlement, creditors were lawfully pursuing monies they were owed by the vendor. The creditors - who were owed over $200K - had obtained a court judgment and a writ of execution was issued. On the day of settlement, the writ was recorded against the title of the property. The problem for the purchasers was that the title check carried out by the their solicitors earlier on the day of settlement did not show that this writ had been registered on the title. The purchasers didn't find out about the writ until it was too late. Despite taking this issue all the way to the high court, sadly for the purchasers, the court determined that the writ still stood. Ouch! What is the lesson in all of this? Purchasers need to ensure they employ a thorough qualified conveyancer or solicitor. When buying a home, make sure your solicitor or conveyancer completes a final title search at the time of settlement, and as an additional safety measure, purchasers should consider insurance against title **. Michael McNamara If you have any questions about the newsletter, please contact newsletter@homepriceguide.com.au Ask the council if there is a chance of getting build over easement exemption. Sometimes easements are unused and 24cm is not all that much. Good luck. And yes any builder… 2 7214 Hi, This is my first post. We are planning to buy new home via House and Land (H&L) Package around Boxhill/Gables/Marsden Park in Syndey. Googled reviews for most of… 0 10476 |