Verification of Identity is essential.
Clients who have had land transactions recently will have noticed that they were asked so show ID by their solicitor, even though they may have known them for years. Why is your solicitor suddenly so interested in seeing your ID?his
All Real Estate Transactions now require positive ID verification. This includes all leases. Confirming the identity of tenants has always been a good idea. It is now a legal requirement.
The new provisions are designed to protect against identity fraud. This requires solicitors to record the actions they take to identify a party in a real estate transaction.
How do I verify the identity of a tenant?
In most cases an Australian Drivers Licence and Passport are sufficient, and a personal interview. This can be done at the solicitor’s office or via an identity agent (who then sends a report to the solicitor). Real Estate agents may ask to see ID, but most are not qualified to verify identity in a way that is legally binding.
Is the tenant creditworthy?