#titledeeds

Q: What is a “Title Deed” and why is it important?

A: A Title Deed is a legal document that proves ownership of a property. It establishes the rights of the owner to the property.

1. Importance: Before buying, it’s crucial to verify the title deed and its history (known as a “title search”) to ensure the property has a clear and marketable title, free from any encumbrances, disputes, or past claims.

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Title deeds are the ultimate proof of property ownership, but ensuring their authenticity is crucial to avoid legal disputes, financial losses, or fraud. If you’re buying, selling, or inheriting property, here’s a simple guide to verify your title deeds.

1️⃣ Start with the Physical Document

Check for official seals or stamps from the land registry or relevant authority.

Ensure the paper quality and print look professional, with no visible erasures or overwriting.

Verify all necessary signatures are present and match official records.

2️⃣ Cross-Check with the Land Registry

Visit your local land registry office or use their online portals (if available) to:

Confirm the ownership details match the deed.

Verify that the property’s boundaries and description align with the records.

Check for any encumbrances like mortgages, liens, or disputes.

3️⃣ Get a Professional Opinion

Hire a property lawyer or real estate professional to conduct a detailed title search.

They can identify any hidden issues or legal complications.

4️⃣ Examine Property Details

Match the survey or plot number on the deed with the actual property.

Confirm the physical boundaries correspond to what’s mentioned in the deed.

5️⃣ Watch for Red Flags 🚩

Unregistered deeds: These are not valid until recorded officially.

Discrepancies in owner details or property history.

Tampering or forgery, like visible edits or mismatched data.

✨ Pro Tip:

In the UK, the Land Registry is responsible for maintaining the record of all land and property transactions. The Land Registry holds information about land ownership, mortgages, leases, and other legal information related to land and property. It is important to have accurate and up-to-date information about land ownership and legal rights to prevent fraud, disputes, and other issues that may arise in the ownership and transfer of property.

Getting land registry information online in the UK is a simple process. You can access the Land Registry's document online at https://www.landregistry-online.org. This portal allows you to search for land registry information by entering the address or title number of the property you are interested in. You can also use the portal to order official copies of land registry documents, such as title deeds, leases, and other legal documents.

The importance of accessing land registry information online cannot be overstated. It provides you with the ability to conduct research on a property's history and ownership, which can be useful in making informed decisions about buying, selling, or leasing land or property. The information provided by the Land Registry can also be used to resolve disputes and clarify legal rights in the event of disagreements between property owners, tenants, and other interested parties.

In summary, accessing the Land Registry online in the UK is a straightforward process that provides valuable information about land and property ownership, legal rights, and history. It is a critical tool for making informed decisions about buying, selling, and leasing property, as well as for resolving disputes and clarifying legal rights.

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New Post has been published on https://newscheckz.com/debtors-to-pay-conversion-fees-for-titles-held-by-lenders/

Debtors to pay conversion fees for titles held by lenders

Borrowers who secured loans using land titles will bear the cost to enable lenders facilitate the conversion to meet new requirements.

This follows the Ministry of Land’s announcement of a new lands registration system which will see title deeds issued before the enactment of the Land Registration Act in 2012 canceled and new ones issued.

According to the Kenya Bankers Association (KBA), financiers will serve the role of facilitating the conversion to the new title deeds on behalf of their borrowers, who may incur some costs.

”Borrowers are encouraged to speak to their lenders for clarification,” director of communications at KBA Nuru Mugambi said.

She said that the association welcomes the government’s decision to reinforce the integrity of title deeds, adding that it will give financiers confidence in the system and thus increase efficiency in use of titles as collaterals.

Financial institutions are among victims of land title deeds fraud racket, losing billions of shillings.

For instance, Equity Bank and NCBA in 2019 lost Sh500 million after the Court of Appeal ruled that the Co-operative Bank of Kenya had the right to a property used to acquire loans from the three banks.

The lenders were laying claim on the single property in Riruta, which is registered in different names and was used to secure over Sh450 million in loans.

Under the new arrangement, the Land ministry will utilize the Registry Index Maps (RIMs) as a reference, replacing the deed plans, further minimizing land fraud.

RIMs display all land parcels within an area as opposed to a deed plan that captures data on one specific parcel.

The government has been issuing titles manually under the Registered Land Act (RLA), Registration of Titles Act (RTA), Land Titles Act (LTA), and Government Lands Act (GLA)

Dealings relating to parcels within the registration unit shall from April 1 be carried out in the new registers.

A pilot run of the migration is already underway in Nairobi with some 5,493 parcels already marked for conversion by the Registrar of Lands.

Announcing the change last week, Land CS Farida Karoney said the process will entail the preparation of cadastral maps together with a conversion list indicating new and old numbers for parcels of land within a registration unit.

he added that the cadastral maps together with a conversion list will be published in the Kenya Gazette, with the notice specifying when the register shall be open to the public for transactions or dealings within the registration unit.

”Any person with an interest in land in the registration unit shall lodge a complaint to the registrar who shall resolve the same within 90 days of receipt,” Karoney said.

At the commencement date, all registers shall be closed and all transactions carried out in the new register. However, all the closed registers and supporting documents shall be maintained in the new registration unit.

Land title deeds are among the popular assets used by borrowers to secure credit from banks in the country.

Every day, hundreds of title deeds are submitted to financial institutions as securities for loans. There is, however, no official data on the number of title deeds held.

Even so, lenders are now embracing movable property such as household goods, livestock and office equipment as collaterals, thanks to the Movable Property Security Rights Act 2017 that has enabled banks to diversify collateral from the tradition of using immovable assets, primarily land and buildings.

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