Hi, I have owned my property for almost 2 years now. the other day, my friend came to visit me and told me that someone put his unit on sale! he saw his unit's advertisement on agency and walked in to query why. the property agent tried to calm him down by saying it must be a mistake. so he asked me if we should get title insurance.
i myself cannot believe that someone else can sell your unit. but my friend convinced me that Today tonight was discussing this issue the other day and there are scams going around.
so my question is, do we really need to purchase a title insurance just in case someone else sell our unit?
the crown actually guarantees all property created under the torrens titling system. If you are concerned contact the land titles office in your state.
NSW has recently imposed a new levy on the transfer of titles to make it even more secure.
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