What is a partial interest title?

If a property has more than one owner, and they own the property as tenants in common, typically A and B are shown as tenants in common proprietors on a single title.

However, it is possible to have individual titles issued for each owner’s respective interest.

For example, if A and B own a property as tenants in common, there could be two (partial interest) titles issued: one title showing A owning a part share of the property, and another title showing B owning a part share of the same property.

This arrangement would enable A and B to independently offer their part shares in the property as security to different lenders.

Partial interest titles cannot be transferred using electronic conveyancing, and so a paper Transfer of Land document needs to be prepared and lodged.

If A transfers their share in the property to B, and thus B becomes the sole owner, then Land Use Victoria can be asked to consolidate the two partial interest titles into a single full interest title, wholly owned by B.

For more information about partial interest titles, please contact Glenferrie Conveyancing in Northcote on 03 9815 2351.