What is a Form 1 Transfer document?
As settlement, a Seller is required to hand over a correctly signed original Form 1 Transfer document to the Buyer in exchange for the purchase money. There are very strict rules set out in the Land Titles Practice Manual as to how a Form 1 Transfer must be signed, an incorrectly signed transfer cannot be accepted by a Buyer at settlement.
TIP: Where a Seller resides overseas the process of signing a Form 1 Transfer can often be problematic as there are additional forms to sign. It is always helpful for Sellers residing overseas to obtain legal representation as early as possible in the conveyancing process to ensure that there are no delays with the signing of the Transfer.
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To learn more about Form 1 Transfer document, contact OwnIt Conveyancing on 1300 553 750.