The ‘Asia Desk’ is a collaboration between UCHK Consulting and various accredited law firms and is a source of independent legal advice for overseas property investors. Overseas real estate investors need to partner with the right legal firm to evaluate all the legal documentation and confidentially assist clients through the legal landscape, answer questions and offer independent legal advice.
The ‘Asia Desk’ conveyancing services take a very hands-on and practical approach when helping overseas clients. They have a strict mandate to work professionally and efficiently with the clear understanding that their job is to ensure your purchase process is smooth and straightforward.
The Asia Desk lawyers are available to speak with you in a variety of languages on how best to conduct your Australian investment strategy. With skilled staff who can correspond in Mandarin and Cantonese, as well as various Chinese dialects including Hainan, Hokkien and Teochew, Malay and English. The ‘Asia Desk’ is assisting many clients with all their property purchasing requirements providing expert guidance throughout the entire process .
The Torrens title system was named after Sir Robert Torrens. His system of land ownership is responsible for the current method of recording and registering land ownership in Australia. The Torrens system started in South Australia in 1858 and is the most secure form of property title in the world and the Australian Government guarantees the system and your title of ownership. In Australia the ownership of property is held by a system known as the Torrens title system and is the worlds most secure and reliable way of owning real estate.
Australia Real estate Legal Advice
From the moment that you purchase your property, our Asia Desk will assign you a dedicated lawyer, who will work with you throughout the entire process and guide and support you from your initial signing of the contract, through to your settlement and possession of your property.Your Asia Desk lawyer will be your point of contact for:
- Answering all your legal questions regarding your purchase
- Exchange of the contract of sale with the seller
- Preparing the necessary transfer documents
- Completing settlement to ensure that you become the registered owner
The Australian Torrens System has been adopted across the world. England and Wales, Ireland, Malaysia, Singapore and Canada are just some of the countries that now use the secure Australian Torrens title of land system.
The torrens title system works on three principles. The Government Register where all land titles are kept accurately records every aspect about the current ownership and interests about a person’s land. Because the land titles Register contains all the information about the person’s land, it means that ownership and other interests do not have to be proven by long complicated documents, such as title deeds. Importantly, the Government guarantees the system and will provide compensation to any person who suffers loss of land or an interest registered under the Torrens System.
When you pay for the property at the settlement, your lawyer acting for you will hand over the money in return for getting a Transfer of land document.
What did we have before the torrens system? Before the Torrens system was introduced, there was a ‘General law title’ system. The General law title system consisted of a “chain” of title deeds all of which had to be in place to enable a property to be transferred.
The ownership of land could be made up of 20-30 different documents , each one referring to the other and following on from the previous. The problem was that often a “piece of the chain” would go missing. The General law title system depended on proof of an unbroken chain of deeds back to the original grant.
Thankfully, Torrens created a new central registry where all transfers of land are recorded in the register, creating a single title with a unique number that also records easements, mortgages and discharges of mortgage.
What does torrens mean for you? When you buy your investment property in Australia, the seller will own the land and their name will still be on the title. When you pay for the property at the settlement, your lawyer acting for you will hand over the money in return for getting a Transfer of land document.
That document states that the seller agrees to transfer the apartment to you. Your lawyer will then lodge that document with the government land registry where the Torrens Title will have your name put on it.
With the assistance of an Australian lawyer your Title ownership is registered on the Government central registry.
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The purpose of property investment > Capital Growth > Finance Scenario > Types of investors > Australian real estate > Property Investment