NEWS FROM ANNE PORTER KNIGHT FRANK

HOMEOWNERS MUST HAVE THEIR TITLE DEEDS TO HAND WHEN SELLING A PROPERTY

Homeowners often do not appreciate the importance of their title deeds, says Lanice Steward, MD of Anne Porter Knight Frank.

If they are buying with a mortgage bond a copy of the deeds will always be held by the bank - but the buyer must nevertheless have his or her own copy.

If the buyer is buying for cash, he should have been given a copy of the deeds by the attorney on paying the transfer cheque - or within three months of transfer. This elementary duty on the part of attorneys is sometimes overlooked due to pressure of work and delegation to uninvolved clerical staff, says Steward.

“Those who do not have the title deeds can apply through their attorneys to the Deeds Office for a copy but if, as often happens, they leave this until the property is sold, they are likely to find that the transfer is held up by the lack of this all important document.”


For further information contact Lanice Steward on 021 671 9120 or email lanice@anneporter.co.za.