BY EMAIL
DATE: 14 APRIL 2026
DISTRIBUTION: GENERAL
SUBJECT: MYSTATE BANK LIMITED – CONVERSION OF PAPER CERTIFICATES OF TITLE TO HOBO
The Land Titles Office (LTO) is commencing the process of converting nearly all of MyState Bank Limited’s paper Certificates of Title to ‘Held On Behalf Of’ (HOBO). It is expected that this bulk conversion process will be completed within the next few business days. Upon completion of the conversion a new edition of each Certificate of Title will be issued.
MyState Bank Limited includes all prior entities including –
- Connect Credit Union of Tasmania Limited
- Island State Credit Union Co-operative Society Limited
- Island State Credit Union Ltd
- MyState Bank Limited
- MyState Financial Credit Union of Tasmania Limited
- MyState Financial Limited
- Perpetual Trustees and National Executors of Tasmania Limited
- Perpetual Trustees Tasmania Limited
- Savings and Loans Credit Union Co-operative Society Limited
- Teachers and Police Credit Union Co-Operative Society Limited
- Teachers Police & Nurses Credit Union of Tasmania Limited
- The Rock Building Society Limited
- Tasmanian Teachers Credit Union Co-operative Society Limited
- Tasmanian Trustees Limited
- The Tasmanian Public Service Savings and Loans Co-Operative Society Limited
- CPS Credit Union Co-Operative Society Ltd
Of course there are always in-flight transactions, and so thought needs to be given as to what is received upon settlement in relation to a discharge of mortgage. Specifically, there may be a difference between the edition of the folio of the Register appearing on the LIST and the physical paper Certificate of Title offered at settlement.
Importantly, notwithstanding the conversion to HOBO, the LTO will accept with discharges of mortgage the recently cancelled edition of the relevant physical paper Certificate of Title, provided that the sole reason for the cancellation and the issuing of a new edition was the conversion to HOBO.
However, the decision to accept an earlier edition of a paper Certificate of Title at settlement lies with the party representative. Although the LTO cannot provide advice to any party representative regarding the acceptance or otherwise of Certificates of Title or Production Slip Receipts, representatives encountering this situation at settlement can contact the LTO for confirmation that the held new edition of a Certificate of Title has been issued solely due to the conversion to HOBO.
ROBERT MANNING
Recorder of Titles
Contact
Land Titles Office
Level 1, 134 Macquarie Street
Hobart TAS 7000