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What is a Land Title

If you are a first home buyer, you may not be overly  familiar with the process of buying land and the legal documentation it includes.

Untitled Land

In most cases, when you buy a block of land in a new estate the land will be sold as unregistered land. You will sign a contract of sale with the developer in which to receive your land once a title is received. The land needs to go through a  civil works process and obtain authority approvals (known as Statement of Compliance). This can vary greatly depending on a number of factors from contractors being available, authority co-operation and not least the weather but you should allow 12-18 months.

What is a Title

A title is simply a legal document that shows legal ownership to a property and grants a person, or persons exclusive use and possession meaning you can build on the land.

How Long Does a Title Process Take?

Titles are issued by the Land Registry Office and usually take up to 10 business days once all civil works approvals have been met.

Titles Issued

Your developer will start sending you emails at least 8 weeks before titles are expected with important information and you should start organising your finances.  Your lender will organise a valuation of the land and engage with a conveyancer who will help transfer the land title to you. Your ownership of the land will be shown through the issuing of the Certificate of Title.

Now it’s time to start building!

Monument Estate has a range of new house and land packages available on a variety of different sized lots with titled land available. Contact our Sales Office 1300 040 563 to find out more. You may be eligible for the HomeBuilder Grant.