Are the costs of conveying company title, strata title, torrens title and old system title the same?
A. No. The costs to convey property in ascending order are: torrens title; strata title; company title; and old system title. It is relatively easy to establish the ownership of torrens title land whereas there are a number of traps and pitfalls with old system title associated with obtaining a good root of title based on documentary evidence or by relying upon the appropriate legislation. If this cannot be done then there will be a defect in title which may mean that the purchaser fails to acquire that which he bought and may become involved in expensive litigation to recover monies paid. There are also issues associated with limited and qualified title which requires the services of lawyers.
