Who has my Title Deed ?

i settled on a property last week, paid the Final settlement , had a Solictor do the Conveyancing .
Today i just thought to myself , shouldnt i have the title deed?
I picked up the keys from the seller last week, were they supposed to give me the title deed?

Who has this ? My solictor hasnt said anything about it ???

Maybe the seller still has it ? They could sell it under me ?

Do u think my lawyer has it, they did the conveyancing ?
Now im sitting here worried about it .

 

Is there a loan against the property?

 

I think the title deeds is held by your lender until you pay off the loan. They look after the registration with the Land Titles Office.

 

The bank holds it until you "pay" them for it? Usually over 30 years.

 

No i paid cash thru the lawyer/ conveyancer for it.
I paid the final payment last Wednesday .

I picked up the keys from the seller , was i suposed to get a title deed from him?

I will have to ring the law firm tommorrow, maybe they have it, or should have it ??

 

In the post then.

 

It's all electronic. You can get a printed copy of it by going to the Titles Office either in person or online.

 

?

 

The solicitor would have it if there is no mortgage.

 

We securely store title deeds for clients who pay for their properties without a mortgage. If a client wants to keep the title themselves, it gets sent to them by registered mail.

It usually takes about a week or so after settlement to receive a title deed from our settlement agent, who has to pay the stamp duty, get the Transfer of Land stamped and lodge it at the Land Titles Office, where the new title is issued in the new owner's name.

 

I was told there was a benefit for not discharging the mortgage after the loan is paid in full. Apparently it helps with asset protection?

 

Its illusory only. Someone potentially suing the owner may do a search to find what assets they own and they may do a title search to find the property with mortgage. Mortgagees are secured creditors and usually where there is a mortgage there is a loan. So they may assume there is a loan and they may assume it is a large loan and this may lead them to further assume that it is not worth suing.

 

Smoke and mirrors?

 

Just got this email from my lawyer

"As I have told you previously the new Title Deed hasn’t been issued yet from Land Titles Office."

 

and we thought, you only bug the forumites

 

Spreading the joy and positivity around.

 

I now reckon I have a pretty good theory as to why all the tradies you contact are too busy.

 

You obviously don't listen or have selective hearing.

 

Just be patient. So where are you going to keep the title deed? When. I first got mine, I left it on the bedside table for a night. I slept so well....until years later realised I should not have paid it off. Argghh