What is a Title Deed

What is a Title Deed

Title Deed(s)!!!

You have heard of this word more than once and maybe wondered what it is.

Wonder no more- read on!!!

What is it?

deed is document evidencing a person’s legal right or title to property, especially real property.

So a Deed is a document that shows you are the owner of your home, stand or piece of land. To avoid confusion on who owns what property (home, stand or land), the Deeds Office keeps a record of all properties in Zimbabwe- this means another copy of your Deed is kept there if you already own one.

To assist you-a Title Deed is not the following;

  1. Cession
  2. Agreement of Sale or
  3. A lease

We will explain these terms in later posts.

Title Deeds refer to a document that shows or represents the registration of a real right in a property at the Deeds Office.

Why get your Title Deeds?

In Zimbabwe, many people fall in the following general categories with regards to having title deeds;

  1. Have Not– It has been observed that many home owners or land owners have fully paid for land or for the house but DO NOT HAVE the Title Deeds- that is have the document.

The main causes are;

a. They did not receive education about title deeds- so they do not know about this document- this bundle of rights!!!!!

b. They know about Title Deeds but DO NOT KNOW how to get the Title Deeds- the process……..next post will assist on this.

c. They know the process BUT DO NOT AFFORD the cost……one day we need to discuss plans on how people can be assisted. Please email your thoughts on possible solution.

2. Where are they?– these ones have the Title Deeds but do not remember where they are and this is caused by;

a. Deeds with a Building Society or a Bank- they bought the home or land through a mortgage and after paying off the loan, they did not take the Deeds.

b. Bought the property from a developer and after paying off, they never looked for the Deeds.

So why GetYoDeeds? Why do you need them;

  1. Real right to a property. Title Deeds remove any doubts of who owns the property. It will assist you avoid getting into unnecessary wrangles over property which legitimately belongs to you.
  2. A property with Deeds cannot be easily sold fraudulently. As the owner you need to give go ahead in writing that the property be changed into the ‘buyer’. You give the go ahead through what is called a Power Of Attorney.
  3. Access to loans. Title Deeds are described as first class security- that is, lenders especially Banks prefer them as security for a loan you may desire from them.

Hold On –Home is not a Place, it is a feeling and thus before you put your Home as security, please Plan!!!!

  1. Property with Deeds is easy to sale. The person interested in buying feels secure buying a property with Deeds than say a property on a Cession.
  2. Real Record to pass throughout generations. It is a better and secure form of documents to keep and pass on generation after generation. You can hire the services of Banks or any companies involved in Safe Custody. They keep valuable documents for you at a fee.

Thank you. Remember to follow us on @getyohome

Next post is on step-by-step process of applying for Deeds for first time applicants.

 

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