Trapped by the new Torrens Assurance ‘Ad Valorem’ Levy
December 17, 2010 Leave a comment
At a recent conveyancing settlement, our client’s lender made a demand that funds be provided in the amount of $550.00 for payment of the Torrens Assurance Levy. This was the first time that this demand was made, and frankly, took all parties by surprise. The representative attending settlement on behalf of the bank made it clear that they would not proceed with settlement unless this payment was provided. Read more of this post



