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New Requirements for Mortgagee in Possession of Land sales

Friday, July 15, 2016 - Posted by Philip Harvey

From 01/08/2016 in both New South Wales and Queensland, new identity requirements come into force.

In general terms, the changes mean that anyone signing a transfer of property on behalf of a mortgagee in possession must be identified. This will mean:

  • A company search being performed to ensure any signatory to a transfer holds the position as stated (ensuring they are empowered to sign). This applies to Directors, Company Secretaries etc; and 
  • An individual identity check necessitating the citing of original identity documents in the presence of the person being identified.

We will be in touch with you on any relevant mortgagee in possession files to ensure this requirement is met.

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