“For home owners it is often an important milestone the day they have paid of their bond. This is followed by the bank releasing the title deed to the owner. But what happens when the owner wants to sell the property but cannot find the original title deed the bank gave back.”
- The applicant will be required to publish a notice of intention to apply for a certified copy in an issue of a newspaper circulating in the area of jurisdiction in which the property is situated;
- Proof of this advertisement must be lodged with the Deeds Office;
- A copy of the lost title deed must then lay open for inspection in the Deeds Office for a period of 2 weeks from date of publication of the aforementioned notice;
- Any interested party may object to the issue of such certified copy within the 2 weeks from date of publication;
- Only once the 2 weeks have lapsed, may the application for a certified copy be lodged at the Deeds Office; and finally
- Should there be a mortgage bond registered over the property, the bondholder’s consent will also be required.
In addition, to the transfer of property, an original title deed also becomes important when a legal dispute arises and you have to provide proof of your ownership of the property.
Once a title deed comes into your possession it is vital that you keep such safe. Should you lose it, it doesn’t mean you no longer have any rights of ownership. However, for any transaction like a sale of property to be effected, you will have to apply for a certified copy thereof, and this can be both time-consuming and costly, particularly if it could have been avoided by taking care to securely store your title deed.
If you have lost your title deed, consult your local property advisor to help you apply for a copy of your title deed.
Disclaimer: This article is the personal opinion/view of the author(s) and is not necessarily that of the firm. The content is provided for information only and should not be seen as an exact or complete exposition of the law. Accordingly, no reliance should be placed on the content for any reason whatsoever and no action should be taken on the basis thereof unless its application and accuracy has been confirmed by a legal advisor. The firm and author(s) cannot be held liable for any prejudice or damage resulting from action taken on the basis of this content without further written confirmation by the author(s).