From 1 October 2019, paper certificates of title will be abolished in Queensland. This means that if you currently have a paper title in your possession, it will be void. It also means that paper titles will no longer have to be handed over at settlement when a property is sold. From 1 October 2019, you will no longer be able to apply for a paper title.
If you have a paper certificate of title that is securing repayment of loan (or for some other type of collateral), you should consider taking some form of alternative security such as a mortgage, as the paper title will not longer provide any security.
If you have any questions about certificates of title, please contact us to discuss.
