If you have your heart set on a property but do not have the money to purchase it, you may approach your bank for a loan and if they give it to you, they will want to be sure that you re-pay the loan. This is known as a mortgage; you use the bank’s money to purchase a property, the property is registered in your name but the bank’s interest in the property is put on the title deeds as a condition of the loan, and you cannot sell the property unless the amount owed to the bank is paid back.
The bank will want to be sure that everything is in order with the property and so, when we assist you with a mortgage, we also assist the bank by means of a ‘Certificate of Title’ wherein we confirm for the bank that having investigated the title to the property, we are satisfied that the property is marketable.
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The information on this site is provided as a guide only and is not professional advice, including legal advice. It should not be assumed that the guidance is comprehensive or that it provides a definitive answer in every case.