Introduction of Trust Details Form and changes to Transmission Applications

Introduction of Trust Details Form

From May 2018, Transfers which record a transferee as trustee will be able to be transacted through eConveyancing. To enable this to occur a new practice with regards to trustee documentation is being implemented – a certified copy of the trust deed will not be required and instead only details of the trust will be required. Read More...

New Form 24 Property Information

Titles Office Forms Update - Form 24—Property Information (Transfer) (Version 7) will be implemented for use from 21 March 2016 (announced 24 March 2016).

Form 24A has also been updated to Version 3.

Item 1(d) of the form has been changed to include provision of the Buyer’s email address for contact after settlement for valuation notices and related documents.

To download the new Form 24’s (Click here).

The continued use of Form 24— Property Information (Transfer) (Version 6) and Form 24A (Transmission Application) (Version 2) will be permitted until 22 April 2016.

The new versions of the forms MUST be lodged after 22 April 2016.

Old versions will prevent lodging, so be sure to update your templates now to avoid possible settlement and lodging failures.

Titles Registry Removal of Parish and County

The Department of Natural Resources and Mines will be removing references to Parishes and Counties in land transactions, as this information is redundant for the unique identification of land. This will affect forms submitted to the department, and some products and datasets obtained from the department e.g. title searches.

While the formal date for this removal is 30 November 2015, it may take some time for the changes to be applied to all products and services. In the interim, these products will either show the value ‘no longer used’ for Parish and County or reference to Parish and County will be removed.

All Titles Registry forms that currently make reference to the Parish and County will be updated to remove this information. An additional Titles Registry Alert in relation to the amendments to the forms will be distributed in the near future.

The continued use of the current forms will be permitted until further notice; but as of 1 December 2015 the Parish and County fields can be left blank.

The department’s web site contains more detailed information about how the change will affect each product or service:

https://www.dnrm.qld.gov.au/mapping-data/removal-parish-county

New Form 24 Property Information

Form 24—Property Information (Transfer) (Version 6) will be implemented for use from 1 July 2014.

Item 4 of the form has been changed to include wording to reflect that the sales price must include Goods and Services Tax (GST) if applicable.

Two additional items points have been included at Item 6. These items require the transferor to identify whether or not GST is payable on the transaction, and if so whether or not the transaction is under the margin scheme.

To view an example of the new Form 24 (Click here) or the Guide to Completion of the Form 24 (Click here).

The continued use of Form 24— Property Information (Transfer) (Version 5) will be permitted until 1 October 2014.

Further information

For information on GST and margin schemes contact a tax accountant, or the ATO on 13 28 61 for Individuals or 13 28 66 for Businesses, or from their website at: www.ato.gov.au.

New Form 23 Settlement Notice

Form 23— Settlement Notice (Version 5) is now available for immediate use. The major change to this form is at Item 6 which now requires all instruments intended to be lodged to complete the transaction to be shown in order of priority (lodgement order). This includes the instrument mentioned in item 2 of the form. Other minor formatting changes that do not impact on the completion of the form have also been made.

Update - Alterations and Minor Corrections to Land Registry Forms

The Registrar of Titles has updated the Land Title Practice Manual with regard to definitions of alterations and amendments to land registry forms and practice to be followed when such occurs.

New titles registry requirements now apply where changes are made to completed forms, because of the Registrar's concerns that some changes have not been authorised.

The new requirements apply to dealings lodged after 30 April 2012. However, a requisition fee will only apply to dealings lodged after 2 July 2012.

See Part 59 Forms - paragraph 2040 of the Land Titles Practice Manual.

Effect of civil partnership on will

A Titles Office Registry Alert has been issued regarding preparation of Transmission applications where a civil partnership is involved.

View the alert and procedures required when preparing your Form 5A of Form 6 Transmissions here.