The State Government has sold off Landgate’s automated titling service in a deal worth more than $1.4 billion dollars.

A consortium of three companies, including two superannuation funds, will take control of the processing of property transactions and searches of the title register.

The 40 year agreement won’t impact jobs.

Treasurer Ben Wyatt says the money will fund the states obligations under the National Redress Scheme conceding he doesn’t yet know how much will be paid out. He also told Oliver Peterson that there is no change to the data ownership structure.

 

 

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