Title deeds are important legal documents used as evidence of proof of ownership of a home or piece of land. If there is a bond registered over the property then the title deeds are kept by the lender or bank, and only returned to the owner once the home loan has been fully paid. Every Homeowner should at the very least obtain a copy of this document, as it contains important and relevant information about the property.
Your title deed serves as proof of your ownership of a property and must be produced when certain property transactions are to be carried out, such as selling the property, if one is intending to subdivide the property or if you register a servitude over the property. Once the original title deed to your property has been given to you, it is your responsibility to store it safely and ensure it always remains in your possession.
When a property is sold and ownership is to be transferred, the original title deed must always be lodged at the Deeds Office. Without an original title deed the transfer cannot proceed. Losing the original Title Deed to your property doesn’t mean you lose your rights of ownership to the property, but it will cause delays when the document is needed. Should you lose your original a title deed, you will have to apply to the Deeds Office by means of a written affidavit for a certified copy as is required by Regulation 68(1) of the Deeds Registries Act.
Replacement of a lost title deed can be time consuming and cause a delay to the sale of your property.
The Title deed of a property contains:
A description of the property – size, boundaries, and exact position.
The name and identity number of the person or persons who legally own the property (more than one owner may be listed on a title deed).
The date when the property was last transferred.
The purchase price if bought from another person.
Any factors that could restrict the future sale of the property, such as a home loan.
Any restriction that applies on the purchase of the property. E.g. – the title deed should state if the property has a full freehold title.
An official Deeds Registry Office seal to indicate that the deed has been recorded in the name of the owner and the date.
Whitfields will provide support in whatever way it can, in assisting scheme executives and residents residing in the community schemes that we manage, along this road of compliance with legislation governing peaceful dispute resolution in the community schemes we manage.
