Protecting your property in the aftermath of a data breach

There has been much publicity around the cyber-attacks on Optus and more recently Medibank. Many customers’ personal details have been compromised which is a cause for great concern. There are instances where personal details including dates of birth, drivers licence numbers, Medicare and passport details have been leaked.

The risk of identity fraud for the over 6 million Australians (more than 1 in 5 people) affected is significant and it is prudent to take immediate action to avoid your personal assets being compromised. This extends to criminals fraudulently dealing with your property, including taking out a loan secured by your property or even selling it.

In the modern environment of e-conveyancing, where physical certificates of title no longer have any legal effect and are not required to be produced when lodging a dealing, there is potentially a greater risk of someone lodging a fraudulent dealing. 

One inexpensive strategy that can be implemented to protect your real estate assets is to lodge a caveat on the title to your own property.  A caveat is a mechanism provided for under the Real Property Act 1900 which prevents the registration of any dealings on title without the caveators prior consent.

By registering a caveat on your own title, no one will be able to register any interest or dealing affecting your land (including a transfer or mortgage) without your knowledge. As the registered caveator, NSW Land Registry Services will notify you in the event any such documents are lodged for registration. This significantly reduces the risk of fraudulent land dealings.

Bartier Perry can assist you with lodging a caveat on the title to your property quickly, efficiently and cost effectively.  If you would like further information, please contact our property team by emailing Neridah Powell at npowell@bartier.com.au or calling (02) 8281 7843.