What are title deeds?

Article by Charmaine Chido Makichi

 

A title deed is a legal document that confers ownership of a property to an individual or an entity. In today’s article I am going to explain more about tile deed.

Basically, a deed is an official written document declaring a person’s legal ownership of a property, while a title refers to the concept of ownership rights, this means that a title deed is a legal document constituting evidence of a right, especially to ownership of property. A tittle deed can also be defined as a document given to someone who had purchased a property and that person’s name will be transferred to the property as the new owner by deed of transfer.

One can obtain a title deed from the deed’s registry where you go to the information desk and an official will help you complete a prescribed form and explain the procedure. You need to take not that having your name on a deed by itself does not affect your credit and a real estate deed is an essential part of every transaction involving ownership of real property.

A title deed is needed for many purposes, it will show the legal description of the land, the owner and also any other dealings that are registered on the folio such as a mortgage. Usually if you have borrowed money to purchase a property, the Title Deed will be held by your lender until you have paid out your mortgage.

When one loses or misplaces his or her title deed, all you need to do is to go the deed’s registry, an Official Copy of the register equivalent to a ‘title deed’ will be given to you. It will not matter if you lose this title deed, a further copy can always be obtained from Land Registry, again for a small fee.

 

 

 

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