On May 1st 2016 the NSW Government adopted new identity verification requirements for people purchasing, selling or transferring their property in Australia.
To help you understand what must be provided, we have included a Verification of Identity Documents PDF table which indicates exactly what form of identification we require from you.
Why do we need to verify our identity?
The National Verification of Identity (VOI) is a new requirement aimed at reducing the risk of property fraud. The processes also identify foreign investors, who may be liable to pay additional taxes (surcharge duty and land tax).
Who is responsible for this?
It is the responsibility of all Conveyancers, Lawyers and Mortgagees to verify their client’s identity. We must take all reasonable steps to ensure that the client has the Authority to enter into a conveyancing transaction, which is also described as a “Right to Deal”.
The Real Property Act has been amended to include a new Section 12E, which enabled the Registrar General to make conveyancing rules. These rules are largely parallel for electronic conveyancing and paper transactions.
How am I verified?
In order to be verified you may attend our office, whereupon we will sight and copy your original documents of identification. The copies we make will be certified by a Justice of the Peace or Solicitor. The identification documents you provide must be current in the case of drivers licence and passport. If your transaction is on behalf of a Company or Trust, additional information will be required.
How do I provide documents if I cannot get into your office?
If you are away with work or live remotely, Australia Post have a Land Title Identity Verification service. If you can attend any participating Australia Post Office and pay a fee of $39.00, they will:
- Verify your identity by obtaining your identification documents
- Take your photograph
- Witness your signature, and
- Organise a secure delivery of your Identity Verification to our office
If you have any further information, please do not hesitate to contact the Property Division of Keystone Lawyers on (02) 4915 9550.