Montane Introduces TitleSafe, Giving Homeowners the Tool to Stay in Control of Their Property Title.
BRISBANE, Queensland — May 21, 2016 — Montane today introduced TitleSafe, an app designed for property ownership protection, helping homeowners know more frequently and more accurately what’s been happening on the title of the property they own, and other vital information.
Montane TitleSafe reveals:
- if the bank completed the transfer of registration properly
- if your property is registered in your name correctly
- whether or not there is a bank loan, that should have been removed, still registered on title
- what other people or organisations have 24 hour access rights to your property
- if a caveat has been put over your property.
CEO of Montane Legal, Craig O’Hara explains the importance of TitleSafe, “We’ve had a number of clients lately whose title was completed incorrectly. Or worse, who have been defrauded. What this means, in effect, their property ownership rights are defective.”
Most people assume if they have the keys to their home and they’ve been paying their mortgage, then they have the only legal rights to it. Of course, one of the ways to prove legal ownership used to be a paper title to the property. But that’s not the case any longer.
In some states, the recording of land ownership has been ‘paperless’ for more than a decade. So, at settlement, conveyancing solicitors hand transfer documents to the bank. The bank is responsible for lodging the documents to make sure the property gets transferred into the new owners’ names. Problem is, the new owners do not get any original title document once this is done.
O’Hara paints a frightening picture of the stress this reliance on the bank to do its job properly can cause.
“Imagine the stress of contracting to sell your home, only to find out a past paid out mortgage remains on title. You then have to go to all the trouble of getting this sorted before the settlement date. This can be a time-consuming process. But failing to do it means your house can’t settle on time.”
O’Hara points out that when dealing with property titles, seemingly little errors can make for big problems, “For example, a common occurrence is that a person’s name is spelt incorrectly on title. They might not know until they go to sell their house. The mistake has to be fixed, and this means proof, paperwork and a pile of extra stressors.”
Montane Legal has reinvented the delivery of legal services with its MLS system to harness cloud-based technologies. Montane is at the fore of the digital legacy revolution with Estate Ready, Montane Will Trust and the Montane Online Store. Montane Legal is a part of Montane Global, a company that gives customers the tools to create, manage, monitor and monetise their branded lifestyle across multi-channel customer experiences.
TitleSafe will be released as an app next month, providing homeowners with the ability to stay in control and up-to-date about what’s happening on their property title. For more information, visit www.montanestore.com/titlesafe.
Press contact:
Naomi Stekelenburg
Montane Legal
naomi@montanelegal.com.au
+61 7 3067 7550
+61 7 3067 7550
admin@montanelegal.com.au