While you have a mortgage, the lender has rights to the property title until the loan is paid. If you buy a home without a mortgage, the real estate attorney or title company records the deed and issues a copy to you.
This is usually the solicitor or conveyancer acting on behalf of the buyer. So, if you're trying to track down your original deeds, they could be with the solicitor who acted for you when you bought the property, or possibly with your mortgage company if you have a mortgage.
When you pay off your mortgage you might be required to pay the mortgagee (the lender) a final fee to cover administration and the return of your deeds). At this time your deeds will be sent to you for safekeeping. You can either keep them safe or ask your bank or solicitors to hold them for you.
If Title Deeds are mislaid or destroyed and the property or land is registered, a simple check with Land Registry will provide details of ownership. Often Land Registry will hold electronic versions of documents associated with the property which can be downloaded from their website for a small fee.
In many cases, title deeds are held by your solicitor or conveyancer who acted on your behalf during the sale, or they may be held by your bank or mortgage provider.
The easiest way to prove your ownership of a house is with a title deed or grant deed that has your name on it. Deeds typically are filed in the recorder's office of the county where the property is located.
Modern Title Deeds, in actuality, are the Land Registry ownership documents, i.e. the Title Register and the Title Plan, although many people still refer to them as Land Registry Title Deeds.
For 99% of our population, finding the Deeds to your house is as simple as obtaining copies of the Title Register and Title Plan, which can be obtained by you within an hour of placing an order over the internet. This is assuming that by Deeds you mean the ownership documents.
All things considered, a secure place where you can keep real estate deeds is worth investing in. Under no circumstances should you keep house deeds in a dresser drawer or under your bed. Keeping deeds and other important documents in a high-quality safe is a good option. You can use it to store other valuables, too.
The Land Registry advise that processing times for updating the register (adding a mortgage or changing ownership) take about 4 to 6 weeks, and creating a new register (transfer of part or new lease) take about 6 to 9 months.
So, do you need the deeds to sell a house? It's possible to sell or remortgage a house without the deeds, but you must prove you own the property to do so.
A deed is the actual legal document that would transfer the ownership (title) of a property from one person to another. A deed is signed by the person selling or transferring the property rights, called the grantor. The person purchasing or taking possession of the property rights is called the grantee.
Essentially, deeds are the trail of documents that prove a property's ownership. This can include contracts for sale, mortgages, the lease, conveyancing documents and wills.
A title deed is a document that shows who has owned land and property since it was registered. Within the deeds of a house, you will find a full history of the property, including any mortgages secured, conveyances, contracts for sale, wills, leases and a description of the property.
The Land Registry do make available a considerable amount of information for free. This includes all of their Practice Guides, Land Registry Forms and House Price Data.
Do I need a solicitor to transfer ownership of a property? It's possible to change the names on title deed yourself without help from anyone else. You simply need to complete the right forms and pay any fee.
Request the seller of the property to give you a photocopy of the title since the Register of Deeds will need information such as the title number and the owner's name. Their office is usually located at the municipal hall where the property is located. Check the Owner's Duplicate Certificate and its seal.
To prove you are the legal owner of the property, you'll need to have the title deed transferred to your name. Seeff demystifies title deeds, a crucial part of the real estate buyer-seller process: What is a title deed?
How long does title deed registration take? The Deeds Office usually takes 2 — 3 weeks to process the documents. However, this can fluctuate depending on the process. If things go smoothly it may be done in 7 — 8 working days, but if there is a bottleneck it can take as long as two months.
Title deeds are an important part of any property sale or purchase. Without them, you are unable to evidence a change of ownership.
The first rule we learn in land and contract law is that he who has no title cannot sell. But then there is another rule that renders the first completely redundant: the bona fide purchaser for value without notice.
The title deeds to a property with a mortgage are usually kept by the mortgage lender. They will only be given to you once the mortgage has been paid in full. But, you can request copies of the deeds at any time.
If your property isn't registered, it doesn't mean there is a problem with your ownership – it simply means there hasn't been a transaction to trigger the requirement to register since it became compulsory for your area.