Join Australia's most dynamic and respected property investment community

Who has my Title Deed ?

Discussion in 'The Buying & Selling Process' started by Darlinghurst Boy, 30th Sep, 2015.

  1. Darlinghurst Boy

    Darlinghurst Boy Well-Known Member

    Joined:
    29th Jun, 2015
    Posts:
    864
    Location:
    Darlinghurst Sydney
    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 .
     
  2. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

    Joined:
    18th Jun, 2015
    Posts:
    2,769
    Location:
    Canberra, Brisbane and Sunshine Coast
  3. House

    House Well-Known Member Premium Member

    Joined:
    13th Sep, 2015
    Posts:
    857
    Location:
    Sydney
    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.
     
  4. Sonamic

    Sonamic Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    1,322
    Location:
    Sunny QLD
    The bank holds it until you "pay" them for it? Usually over 30 years. :oops:
     
  5. Darlinghurst Boy

    Darlinghurst Boy Well-Known Member

    Joined:
    29th Jun, 2015
    Posts:
    864
    Location:
    Darlinghurst Sydney
    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 ??
     
  6. Sonamic

    Sonamic Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    1,322
    Location:
    Sunny QLD
    In the post then. :D
     
  7. D.T.

    D.T. Specialist Property Manager Business Member

    Joined:
    13th Jun, 2015
    Posts:
    6,888
    Location:
    Adelaide, SA
  8. bob shovel

    bob shovel Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    6,228
    Location:
    Penrith, NSW
  9. Terry_w

    Terry_w Structuring Broker and a Structuring Lawyer Business Member

    Joined:
    18th Jun, 2015
    Posts:
    12,826
    Location:
    Remote
    The solicitor would have it if there is no mortgage.
     
  10. KateAshmor

    KateAshmor Victorian Conveyancing Lawyer Business Member

    Joined:
    25th Jun, 2015
    Posts:
    223
    Location:
    Melbourne
    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.
     
    JacM likes this.
  11. Beelzebub

    Beelzebub Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    621
    Location:
    Lost
    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?
     
  12. Terry_w

    Terry_w Structuring Broker and a Structuring Lawyer Business Member

    Joined:
    18th Jun, 2015
    Posts:
    12,826
    Location:
    Remote
    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.
     
    larrylarry likes this.
  13. Scott No Mates

    Scott No Mates Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    8,231
    Location:
    Sydney or NSW or Australia
    Smoke and mirrors?
     
  14. Darlinghurst Boy

    Darlinghurst Boy Well-Known Member

    Joined:
    29th Jun, 2015
    Posts:
    864
    Location:
    Darlinghurst Sydney
    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."
     
    Perthguy likes this.
  15. Mumbai

    Mumbai Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    807
    Location:
    Sydney
    and we thought, you only bug the forumites
     
    tomlemke, MJS1034, jins13 and 4 others like this.
  16. Azazel

    Azazel Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    8,111
    Location:
    Brisbane
    Spreading the joy and positivity around.
     
    jins13 likes this.
  17. Beelzebub

    Beelzebub Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    621
    Location:
    Lost
    I now reckon I have a pretty good theory as to why all the tradies you contact are too busy.
     
    jins13, ADLInvestor, Kael and 3 others like this.
  18. jins13

    jins13 Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    1,477
    Location:
    Sydney
    You obviously don't listen or have selective hearing.
     
    Last edited: 9th Oct, 2015
  19. larrylarry

    larrylarry Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    4,258
    Location:
    Sydney
    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