Understanding title deeds and the transfer process is key when buying property. According to Quay1 International Realty the title deed is the official legal document proving ownership, and the transfer of property is officially completed once it is registered with the Deeds Office.
READ: Property transfer delays - Where to expect them and how to avoid them
There are various aspects that buyers should be aware of:
- The conveyancing process is managed by attorneys selected by the seller, ensuring compliance with all legal requirements.
- Transfer costs and fees are the responsibility of the buyer.
- The process may take up to three months, depending on factors such as bank approvals, compliance certificates, and Deeds Office processing times.
- Before finalising a purchase, it's crucial to verify property details, including ownership history, servitudes, and any restrictions.
