Keeping our clients informed is important to us so we regularly publish our thoughts on topics that will be of interest to anyone involved with commercial property. We call them ‘insights’ and we hope you find them of interest.
REGISTRATION - How we approach it.
Tenants often get very excited about getting their Lease registered on the Title to the Land, especially in the early stages of their relationship. However, when the reality of the quite substantial costs involved hit home, they often decide not to proceed.
With this in mind, we have developed a process over the years that goes like this.
- Firstly, we ensure that the Lease we prepared is fully signed and executed by all parties so that it is legally enforceable
- If the Tenant requests Registration, we work out the costs involved and send an invoice
- Once payment is received, we then: -
- - Arrange preparation of a plan (if one is necessary)
- - Prepare and print the Land Titles Office panel form
- - Forward the documents to any Mortgagee for their consent
- - Obtain search copies of the Certificate of Title, search ASIC records to obtain Company information and details of Company Directors.
- - Undertake the Verification of Identity process with you, the Landlord
- - Complete the page numbering and other technical requirements of the Land Titles Office
- - Forward the document to the Tenants Solicitors or Conveyancers for them to provide their Certification
- - Provide our own Certifications on behalf of the Landlord
- - Pay the fees and lodge the document in the Land Titles Office
- - Follow up with the Land Titles Office and attend to any requisitions
- - Once confirmation of Registration is received, we distribute the Lease documents to all parties.
All of this takes time but because the Lease is legally enforceable from the moment it is fully signed, the parties can relax and simply wait until the process is complete. This way it saves a lot of stress for everyone.
As always if you have any questions, please let me know.