Need some answers on discharge to title deeds

[tt32003]

After fully paid my mortgage loan, receive a letter from the bank.

Asking me to inform the back on the solicitor acting for me on the discharge of title deeds.

So how do I go about doing this ?

Need to hire a lawyer to write to them ?

Any lawyer will do ? Or should look for the lawyer that handle my mortgage loan previously ?

And how much is the legal cost for the whole process ?

Sigh thought at the end of all these can just get the deeds from the bank.

Never expect still got lawyers and fees involved.

 

[haato89]

Based on my parents experience lawyer will do. Just call up a few firms to get an idea ba

 

[cheongking888]

You can look for this lawyer Sean of Lexcompass. Google his contact number.

 

[Squaredot]

Any law firm can discharge your mortgage and get the title deed. It's standard procedure. Ask for a few quotes, legal fee varies. Paid in cash, not CPF deductible.

 

[tt32003]

Thanks for all the replies.

But it seems there is a catch.

The lawyer that you engage must be on the panel of the bank.

Or else may need to pay double ie for yourself and the bank.

So looks like must call the bank first to ask them who are on their panel.

But at least now know that the cost is a few hundred bucks.

So not too bad.

 

[heavenspirit]

Thanks for sharing, i still got 20 years to go.

 

[tt32003]

So far cheapest law firm I found is $488.

The bank say cannot take too long or else they may charge for safe keeping of the deeds.

Really blood suckers.

 

[henrylbh]

This is a hassle of using bank loan. You need to incur cost to discharge the mortgage and get possession of the title deed. In addition you need to keep the title deed in a safe place until you sell your property. If one of the joint owners passed away you will again incur cost to change ownership in the title deed. For private properties, you have no choice. For HDB flat and HDB loan, you dont need to do much. After settling the loan, HDB will keep the title deeds on your behalf without charge.

 

[henrylbh]

So far cheapest law firm I found is $488.

The bank say cannot take too long or else they may charge for safe keeping of the deeds.

Really blood suckers.

You have a choice.

When I settled my bank loan and the law frim wrote several letters including registered advising me to collect the title deed. I did nothing for more than 10 years and finally I do even know where to locate the the law firm!!! But I was lucky that I dont need to produce the title deed when my property went enbloc.

 

[ericwsw]

Thanks for all the replies.

But it seems there is a catch.

The lawyer that you engage must be on the panel of the bank.

Or else may need to pay double ie for yourself and the bank.

So looks like must call the bank first to ask them who are on their panel.

But at least now know that the cost is a few hundred bucks.

So not too bad.

Sori to revive the old post...

So the few hundred bucks is for "acting for both sides", all inclusive?

 

[ericwsw]

So far cheapest law firm I found is $488.

The bank say cannot take too long or else they may charge for safe keeping of the deeds.

Really blood suckers.

Pls share... Thanks a lot.

(or pm me if not convenient publicly...)

 

[chopra]

Henry, so u mean hdb will settle title deed after we fully paid up the hdb loan borrowed from bank?

 

[MichLau]

This is a hassle of using bank loan. You need to incur cost to discharge the mortgage and get possession of the title deed. In addition you need to keep the title deed in a safe place until you sell your property. If one of the joint owners passed away you will again incur cost to change ownership in the title deed. For private properties, you have no choice. For HDB flat and HDB loan, you dont need to do much. After settling the loan, HDB will keep the title deeds on your behalf without charge.

Thanks for the information.

What about HDB flat but private bank loan (SCB)? Will HDB keep the title deed for us?

 

[chopra]

You have a choice.

When I settled my bank loan and the law frim wrote several letters including registered advising me to collect the title deed. I did nothing for more than 10 years and finally I do even know where to locate the the law firm!!! But I was lucky that I dont need to produce the title deed when my property went enbloc.

Henry, so u mean hdb will settle title deed after we fully paid up the hdb loan borrowed from bank?

 

[Laneige]

Original hdb title deed is with hdb
U paid all liao they also give u photocopy one

 

[derrickgoh]

Original hdb title deed is with hdb
U paid all liao they also give u photocopy one

Strange, when i paid up my bank loan i got the original leh. All yellow & some ink faded too. Lol

 

[eric3743]

Strange, when i paid up my bank loan i got the original leh. All yellow & some ink faded too. Lol

Are you sure it is THE ORIGINAL Title Deed.

This was what i thought so when i paid in full for my new BTO HDB Flat in late 2016.
A copy of the Title Deed was sent to me and assumed it is the one.

But recently received a HDB Letter stating "Safekeeping of Title Deed by HDB".

1. Your Title Deed has been successfully registered with the Singapore Land Authority and is now with HDB.

2. As an extra service to you, Legal Department will safekeep the Title Deed on your behalf. This will save you the inconvenience of attending at HDB Hub to collect your Title Deed.

3. Please be assured that you may still deal with your flat even though the Title Deed is with us. For any tranasaction with HDB where the Title Deed is required, you may inform the Branch Office/Resale Section that the document is with Legal Section.

4. However, if you would prefer to collect your Title Deed, please call any of our officers below to arrange an appointment:
(i) Ms Evelyn Lee at Tel No. 64901917; or
(ii) Mr Henry Chan at Tel No. 64901912.
Please be informed that collection of the Title Deed is strictly by appointment only.

Maybe it is best to get a confirmation on the actual original copy of the Title Deed.

For your info.

 

[Laneige]

Ya better check. My info is from hdb officer. Say scare ppl lost so countrywide practicing this. Maybe the fellow send sala one out

 

[chopra]

kns. we are merely 99years tenants. why are we supposed to keep this shiat.

 

[therat]

The early days, HDB issue original title Deed to the owner but when owner want to sell their unit. They cannot remember where they kept the original Title Deed. Either lost it or the Deed is damage, etc.

After that HDB dont give orginial title deed. They give copy.