The title deed of your house is like it’s birth certificate and without it, you will struggle to sell it.
The solution for a lost title deed situation, especially in Barrydale, is simple… ensure that your estate agent is up to speed with the latest regulations and on this front Ruth Goodman of the Dormehl Property Group will gladly assist you.
“A lost or misplaced title deed will mean that you’ll need to make an application for the certified copy thereof to be issued by the Deeds Office.” Ruth explained.
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“A certified copy (certified by anyone other than the Deeds Office) will not be acceptable.” she added.
Ruth said that the procedure that has to be followed for the application for the deeds office certified copy of title deeds has been significantly changed from 25 February 2019 in terms of the new Regulation 68(1) procedure.
The new application must be signed in front of a Notary Public and must be published in the Government Gazette where after it must lie for inspection at the Deeds Registry for two weeks after the date of publication.
Are there any costs involved?
There are extra costs involved in having documents notarised and placing an advertisement in the Government Gazette.
The biggest cost, however, lies in the fact that the seller’s sale or the registration of a further mortgage bond taken out will be delayed should the problem be uncovered too close to the expected date of transfer.
Ruth reminds her sellers that when listing property how important it is to establish the whereabouts of title deeds before they commence with the marketing process.
“This could result in extra costs and delays when you are trying to sell your property,” she stated, adding that it is very important to establish the whereabouts of the title deed before you commence with the marketing process of your prized property.
“Please remember that the title deed will be with the bank if the property is bonded so do not panic if you don’t have your title deed for a bonded property.”
The bank holds it as part of their security and if the bank has misplaced it this will only become known to the conveyancer at an advanced stage of the transfer
process.
What is next?
How to proceed with this whether you are the seller, purchaser or agent in respect of a property: confirm the whereabouts of the title deed of the property.
Should you require assistance with the application for a copy issued by the Deeds Office or if your client isunsure as to whether their document is with the bank, simply give Ruth a call.
Ruth works closely with Greyvensteins Attorneys and together they will ensure that it is smooth selling all the way.
*For more information phone Ruth Goodman on 074 242 2861 today
