Where do keep deed (title certificate)?

Where do you keep title certificate?

 

Never had the problem as the banks hold all mine as all properties have a mortgage.

 

I wish I had that problem, but mine are mortgaged too.
I would keep it in a bank vault if that is an option. Wouldn't keep it at home incase fire, loss, theft. I also wouldn't leave it at solicitors office for the same reasons. Bank seems to be safest option.

 

I keep mine in the petty cash tin on the desk at Level XY, ### Elizabeth St Brisbane. Combination is L*** R$$$ L#$*

 

Surely there is an electronic copy stored at the Lands and Titles Office?

Is there any need to keep a paper copy in a safe?

 

I don't think so

 

What happens if you lose or can't find the title certificate?

 

Bottom of the washing basket. Nobody's been that deep in years and the bottom pair of undies have calcified to the point it would take a jack-hammer to penetrate.

Seriously mine are all with a bank or three, but I'll probably keep them alongside my will in the solicitors safe when the time comes.

You can get a replacement certificate issued from the titles office, but I don't believe it's cheap.

 

Lands and Titles Office

 

Get a new one issued

 

If someone finds ...steals a title...can they use it? Is it any less safe than a credit card?

 

leave $500 or so on your mortgage...then its at the bank for freeeeeeeeee

 

Isn't there a registry that the government has so that if you lose it (say in a house fire), you still own the house that the deed was for.. ?

Ohh ok .. so it's not valuable in the way that if you lose it, you are totally screwed and you no longer can prove that the title is yours ... it is valuable in the way that a replacement piece of paper is expensive.

Seems kinda ridiculous that is expensive. The government holds a registry for it saying who actually owns it, so what sense does it make for a printed copy to cost a lot or even be interesting to keep for yourself (other than insurance if their server gets hacked)?

 

With old system title possession of the title was equivalent to owning the property. But under the Torrens system registration is what determines ownership

 

If your in WA I suggest you hand the CT back to Landgate and register an owners caveat on the title. In this way you do not need to worry where the duplicate certificate of title is held and you have the greatest protection against scammers.

An unencumbered CT is easier to use in a scam than one with a mortgage or caveat registered on it.

 

In a PDF at Lands title office

 

Unfortunately I do know what happens in WA if a title is lost. Mine was "safely" stored at Bank of Melbourne who got bought by some other bank (can't remember now) and I sold the property and went to settle and "uh oh, we can't find it" they said.

Now this was a few years ago (ok 15yrs) so things may have changed BUT what had to happen was the bank told the Lands Office who said "well copulate a duck, we don't like this, you cannot settle until it's sorted".

The bank and I had to sign Stat Decs stating that we had been unable to locate it and needed a new one created. Seeing as I'd never had the Title mine was easy to declare. The Lands Office then put a notice in the newspaper looking for anyone who could basically had a right to a claim on the property and after due process and no claims other than myself and the bank they created a new one.

I did make the bank pay for everything (though not sure how much it came to) plus lost interest plus all fees plus no mortgage repayments. Thankfully the buyers were happy to wait and not charge penalty interest on being late to Settle.

In the end it took around 3mths to get it sorted.

 

Supposed to be in the safe at home but it's kicking around somewhere. I guess it is in paperwork ready to be filed.

Eek! I just read the whole thread and feel like I should find it and put in the safe.

 

Losing important documents can be expensive. Very expensive. Trust deed too. I had a client lose a share cert for a listed uk share holding Registry charged 6000 pounds to replace the one page.....most of it was title protection insurance. Our asx paperless system is so much better than that...