Deposit Title Deed For Free

Also known as sale deeds, title deeds are real estate documents used in India and other countries. They originated from a time when the land and deeds were recorded in the County Records office. But they have evolved since then. Title deeds convey ownership of properties to parties purchasing them from the owners.

It is a legal document which confirms or proves that one is the owner of a property after having been transferred into ones name. It contains the details of the property such as the full name of the owner/s; date of purchase, the size, etcetera.

Deposit of Title Deed is creating a charge on the property by handing over the title deeds of the property by its owner to the lender and orally confirming of handing over the title needs for the intent to create a charge on the property for the amount borrowed. Deposit of Title Deed will not incur any stamp duty.

What Is a Mortgage Deed? A mortgage is a loan extended to someone in order to purchase a property. A mortgage deed is a legally binding document outlining the terms of a mortgage that puts a lien on the house until the lender repays the loan in full.

Title deeds are a series of documents which prove the ownership of a property and the history of its ownership. They will include documents which cover mortgages, lease information, contracts as well as any wills or conveyancing.

A mortgage by deposit of title deeds is a form of mortgage recognised by S. 58 (f), T. P. Act,which provides that it may be effected in certain towns (including Calcutta) by a person ?delivering to his creditor or his agent documents of title to immovable property with intent to create a security thereon.?

Except in the case of sharing ownership (joint ownership) of a property, it's not possible for 2 or more people to simultaneously own a valid title deed in South Africa for the same property. In cases of joint ownership, the names of each owner must appear on the second page of an identical title deed.