13 November 2015

Verifying your client

Sale, Purchase, Mortgage, Lease
Victoria

Asked

With the new VOI procedures now in place, if my client purchases more than one property, do I need to have him verify identity for each transaction?

I cannot find any reference to this situation.

Answered

From 9 November any document lodged with Land Victoria is now subject to verification of identity requirements.

The verification of identity lasts for two years and unlimited transactions. The verification of identity documentation is not lodged with Land Victoria, but must be retained for seven years: requirement 4.2(d).

For properties owned by more than one client, verification of identity is required for all owners.

Regards

Mentor