Title guarantee

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Under the Torrens title system, land title is guaranteed by the State Government. In effect, the State Government promises that the registered land owners recorded in the NSW land title system are the true owners of their land.

The Torrens Assurance Fund (TAF)

The State guarantee of title is backed by the Torrens Assurance Fund (TAF), which provides compensation for any loss suffered as a result of fraud or error in registration. This guarantee of title provides certainty and security of ownership and also ensures confidence in both the NSW land title system and the State economy.

The TAF is funded by a $4.00 levy on every dealing and caveat registered in the land titles system. The $4.00 levy will be adjusted annually according to CPI.

What does the 35 year concession mean for the TAF?

The TAF will continue to operate as it does today. That is, the NSW Government will continue to guarantee the Torrens titles and maintain the Torrens Assurance Fund. Applications for compensation from the TAF will still be made to the Registrar General.

This government guarantee underlies the integrity of the Torrens system. Consumer decision-making about whether to take out title insurance should not be affected.