Ombudsman Foreword Highlights Telephone Service New Disputes Dispute Resolution Process Closed Cases Types of Disputes Systemic Issues Case Studies Complete Annual Report
BFSO Home |
 | | Failure to Register Transfer of Land
|
| Mr and Mrs M purchased a block of land in New South Wales in December 2002 and obtained finance from a financial institution. Mr and Mrs M became aware in March 2003 that the title had not been registered with the Land Titles Office. The title was still in the name of the developer. The disputants notified the financial institution of this in March 2003 and were told that it was experiencing problems and there was a three month delay in the registration of all documents. Ultimately, the title was not lodged for registration with the Land Titles Office by the financial institution until eight months after settlement.
In the meantime the owners of the block adjacent to Mr and Mrs M's block had lodged an application for a planning permit with the Council. Notification of the plans was not sent to Mr and Mrs M as they were not registered as the owner at that time. Mr and Mrs M did not find out about the development of the adjacent block until construction started in September 2003.
Mr and Mrs M said that they had lost the opportunity to object to the proposed development as a result of the financial institution's delay in lodging the title for registration. The development on the adjacent lot significantly restricted the view that Mr and Mrs M had from their property and caused them to redesign their own plans. Mr and Mrs M claimed $87,900 in loss which included loss in land value, redesigning costs, additional building costs and additional rental costs as a result of the delay caused by redesigning the building.
The financial institution admitted it had made an error by delaying the lodgement of registration of the title but denied liability for the loss claimed by the disputants.
|
| |
|
|
|
|
|
|
