29 Oct 2015
New verification of identity requirements for paper conveyancing in Victoria
by Sharene Hambur, Nicholas Chan
From 9 November 2015, new verification of identity requirements come into effect for persons who wish to lodge registrable instruments or dealings in paper form at Land Victoria.
As a result of the efforts of Land Victoria to implement similar procedures for paper and electronic conveyancing, from 9 November 2015, you will need to comply with new verification of identity requirements before paper instruments or dealings can be lodged at Land Victoria for registration.
The new verification requirements fall under three categories:
- verification of your identity;
- verification that you are a legal person; and
- verification that you have the right to enter into the relevant instrument or dealing.
The verification of identity requirements will also need to be satisfied before your solicitor can provide any duplicate certificate of title they hold on your behalf to you.
1. Verifying your identity
Reasonable steps must be taken to verify your identity, whether you are an individual or a corporate entity.
If you are an individual, your solicitor (either personally or through an authorised agent) must verify your identity in accordance with a standard procedure. This will involve a face-to-face interview at which you will be required to produce certain original identification documents such as a passport, drivers licence, birth or citizenship certificate, or Medicare or Centrelink card (Standard Procedure). Your solicitor must retain copies of these identification documents.
For corporate entities, the identity verification procedure will be a bit more involved as your solicitor must:
- conduct a search of the records of the relevant regulatory body (such as ASIC for companies);
- take reasonable steps to identify the person/s authorised to sign, or witness the affixing of any seal, on behalf of your corporate entity; and
- verify the identity of each person who will sign the paper registrable instrument or dealing on behalf of your corporate entity in accordance with the Standard Procedure.
Where an individual or corporate entity has appointed an attorney to execute a paper registrable instrument or dealing, the solicitor will have to review the power of attorney and carry out similar identity verification procedures in relation to that attorney.
Where identity verification is required, Clayton Utz is able to provide advice on the most appropriate and convenient way for this to occur, including by verifying identity at our offices or through a third party agent.
2. Verifying that you are a legal person
Reasonable steps must also be taken to verify that you are, or your company is, a legal person. These steps will ordinarily be satisfied as part of the verification of identity process as set out above but, in certain circumstances, your solicitor may require further documentation.
3. Verifying that you have the right to enter into the relevant instrument or dealing
Reasonable steps must be taken to verify that you have the right to enter into the relevant instrument or dealing.
For a corporate entity, this will entail providing relevant corporate and/or trust documents to your solicitor to enable this final form of verification to be completed.
The new verification of identity requirements create additional procedures with which you will need to comply, with the assistance of your solicitors, in order for your instruments or dealings to be accepted at Land Victoria for registration.
If you regularly sign paper registrable instruments or dealings which must be lodged at Land Victoria or if you intend to sign such a document in the future, Clayton Utz can guide you through the new procedures.
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