You signed the offer to purchase, secured finance with a bank (or paid cash), and the property was registered in your name.
The conveyancer has notified you that the title deed has been sent to your bank with the bond for safekeeping if bonded, or the original title deed is ready for collection. Alternatively, the conveyancer is keeping the title deed for you.
Six years later, you wish to upgrade (or downgrade) and decide to sell your property.
Where is your title deed now?
Hayley Appel, attorney, conveyancer and notary at H Appel Incorporated, explains that a title deed is the document that proves your ownership of a property, whether that is a freestanding house or a sectional unit.
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“The title deed sets out who you bought from, your full details, the full property description, as well as the date and purchase price of the property.
“It is correctly termed the ‘deed of transfer’ as a ‘title deed’ could be any document showing ownership, which could include a mortgage bond reflecting the bank’s security – i.e. the bank’s ownership.
“It is therefore of utmost importance to know where your deed of transfer, specifically, is kept, as this is the document required to pass the transfer to your buyer once a successful sale has been concluded.”
It often happens that deeds of transfer go missing – whether at the bank or the owner mislays them- and, worse still, the conveyancer has, for some reason, lost or destroyed the deed over the years.
While it is not too much of a dilemma, the process does require the services of a conveyancer, attracts some fees and disbursements, but can be done simultaneously with the actual transfer lodgement at the deeds office.
“The process includes the signing of an application confirming the loss of the deed by the owner, as well as an instruction for placing an advertisement in a local newspaper.
“The conveyancer instructed with the transfer can attend thereto. Once signed, an advertisement runs and a period of 14 days is provided for, for lain in inspection at the deeds office – a period open for any objections,” Appel says.
Only once this 14-day period has lapsed can the documents be submitted (lodged) at the deeds office for transfer.
The resultant document would be termed a “duplicate original” utilised for transfer.
Alternatively, you could request a certified copy from the Deeds Office, but this document would not be sufficient for transfer purposes (change of ownership).
Appel says this is why it is key that your deed of ownership is found, or at the very least, you know where the original is for future transactions.
“If you are unsure, a check can also be done by a conveyancer. You do not need to wait for the transfer to apply for a duplicate original deed. Rather act sooner than later, for peace of mind.”
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