Physical Title Deed for HDB

[richwang]

Not sure whether this is the right place to ask this question. But I need to redeem my outstanding HDB loan to get a better credit line. HDB Branch office has offered me to keep the physical title deed with the branch office with some fees.
Shall I keep it at home or leave it with HDB Branch?
What will happen if I lost the physical title deed? Can I get a replacement?
What if HDB loss my title dead (and their computer records in a big disaster), do I still have other evidence to show that I am the owner?

How about Title Deed for private property? How many of you actually keep it at home, or keep it with the lawyers (or banks)?

Thanks,
Richard

[devilplate]

Not sure whether this is the right place to ask this question. But I need to redeem my outstanding HDB loan to get a better credit line. HDB Branch office has offered me to keep the physical title deed with the branch office with some fees.
Shall I keep it at home or leave it with HDB Branch?
What will happen if I lost the physical title deed? Can I get a replacement?
What if HDB loss my title dead (and their computer records in a big disaster), do I still have other evidence to show that I am the owner?

How about Title Deed for private property? How many of you actually keep it at home, or keep it with the lawyers (or banks)?

Thanks,
Richard

i tink u tink too much....jus keep it in a safe deposit at home....make sure its fireproof

u tinking of getting 80% loan for 8courty? too risky....get a smaller unit bah

ops...300k cash on hand...u can only buy up to 700k....2bedders all gone?

[ysyap]

Not sure whether this is the right place to ask this question. But I need to redeem my outstanding HDB loan to get a better credit line. HDB Branch office has offered me to keep the physical title deed with the branch office with some fees.
Shall I keep it at home or leave it with HDB Branch?
What will happen if I lost the physical title deed? Can I get a replacement?
What if HDB loss my title dead (and their computer records in a big disaster), do I still have other evidence to show that I am the owner?

How about Title Deed for private property? How many of you actually keep it at home, or keep it with the lawyers (or banks)?

Thanks,
Richard

I think you are mistaken. HDB keeps the title deed for you FOC. It is not kept at the Branch office. Rather it is kept at HDB hub. Also if you lose the deed, you can get it replaced by HDB for a penalty. The penalty cost ranges from several hundred dollars to about two thousand dollars, depending on when you lose it, etc (not too sure the details). Title deed for private property is usually kept by banks...

[devilplate]

Title deed for private property is usually kept by banks...

if ur pte ppty is fully paid up....bank will release the title deed to u....physically jus a piece of junk to me but vy useful when u nid it to borrow $$$...LOL

[ysyap]

if ur pte ppty is fully paid up....bank will release the title deed to u....physically jus a piece of junk to me but vy useful when u nid it to borrow $$$...LOL

Also when you need to sell it, lawyer will require it from you...

[richwang]

Thanks a lot for all the replies.
I was from China. Over there, whoever has access to the physical title deed can use it to get a bank cash loan of 70% or so. That's why my grand mother is so careful about where to hide it. You may not believe it, we don't even know where she hide it even after she has passed away! So no one can sell the unit now. My uncle and his family is staying in the unit (for 70 years?)
In Singapore, I guess I will leave it with HDB Hub. Will they charge me if I change my mind and want to keep it myself? Will loan shark access the physical title deed to get 70% cash loan? Maybe I can get 200K from them.
With my 300K cash in hand, I could have 500K cash.
If I take a 80% bank loan, I could afford 2.5M unit.
OK, anything "smart" in Singapore is likely illegal.
I will just use the 300K to make a 80% bank loan, then maybe I could buy something 1.3M - free hold, low rise.

Thanks,
Richard

[devilplate]

Thanks a lot for all the replies.
I was from China. Over there, whoever has access to the physical title deed can use it to get a bank cash loan of 70% or so. That's why my grand mother is so careful about where to hide it. You may not believe it, we don't even know where she hide it even after she has passed away! So no one can sell the unit now. My uncle and his family is staying in the unit (for 70 years?)
In Singapore, I guess I will leave it with HDB Hub. Will they charge me if I change my mind and want to keep it myself? Will loan shark access the physical title deed to get 70% cash loan? Maybe I can get 200K from them.
With my 300K cash in hand, I could have 500K cash.
If I take a 80% bank loan, I could afford 2.5M unit.
OK, anything "smart" in Singapore is likely illegal.
I will just use the 300K to make a 80% bank loan, then maybe I could buy something 1.3M - free hold, low rise.

Thanks,
Richard

not sure wat u quoted is true for situation in china

in SG, title teed bears our name....it will be stamped and transferred to ur name....and nobody can use ur title deed to borrow $ except the lawful owner of the ppty which is U

[hopeful]

if get hold of old physical title deed, can only take loan with it? cannot sell?

is China old title deeds like bearer bonds? or share certificates? no names on the title deeds?

[devilplate]

so mabe now we can appreciate the 3% stamp duty? LOL

[5577]

What if HDB loss my title dead (and their computer records in a big disaster), do I still have other evidence to show that I am the owner?

Yes, I must say their record keeping sucks big time! I did a transaction a year and a half ago. They actually had the tenancy type (Joint tenancy/ tenancy-in-common) wrong!

I found out only 6 months after the transaction when I login to my account to check some details. It took another 6 months to set things right after ensuring that my lawyer did the right thing and following up with HDB on their screw ups!

[devilplate]

Yes, I must say their record keeping sucks big time! I did a transaction a year and a half ago. They actually had the tenancy type (Joint tenancy/ tenancy-in-common) wrong!

I found out only 6 months after the transaction when I login to my account to check some details. It took another 6 months to set things right after ensuring that my lawyer did the right thing and following up with HDB on their screw ups!

poor u....

seriously anything can happen....computer/IT disaster can happen anywhr

just imagine wat will happen to our hard earned savings in our bank accounts?

its just numericals

[ysyap]

Didn't a glitch like this happened in DBS 2 years back or something? Scary to leave $ in bank. Better to leave in property! But then when natural disaster occurs or war breaks out, everything goes too!

[ysyap]

In Singapore, I guess I will leave it with HDB Hub. Will they charge me if I change my mind and want to keep it myself? Will loan shark access the physical title deed to get 70% cash loan? Maybe I can get 200K from them.

HDB will not charge you should you save your mind. Can always call them to inquire more. Anyway, don't get involved in loan shark!!! Unless you're staying in condo, they can easily send their art master to decorate your HDB units...

[5577]

poor u....

seriously anything can happen....computer/IT disaster can happen anywhr

just imagine wat will happen to our hard earned savings in our bank accounts?

its just numericals

Understand your point...... ah well... It just have to be me - the unlucky one to have this unfortunate incident among thousands who transacted each year.

[Acer]

Thanks a lot for all the replies.
I was from China. Over there, whoever has access to the physical title deed can use it to get a bank cash loan of 70% or so. That's why my grand mother is so careful about where to hide it. You may not believe it, we don't even know where she hide it even after she has passed away! So no one can sell the unit now. My uncle and his family is staying in the unit (for 70 years?)
In Singapore, I guess I will leave it with HDB Hub. Will they charge me if I change my mind and want to keep it myself? Will loan shark access the physical title deed to get 70% cash loan? Maybe I can get 200K from them.
With my 300K cash in hand, I could have 500K cash.
If I take a 80% bank loan, I could afford 2.5M unit.
OK, anything "smart" in Singapore is likely illegal.
I will just use the 300K to make a 80% bank loan, then maybe I could buy something 1.3M - free hold, low rise.

Thanks,
Richard

Not sure about how china housing system work.

In Singapore, you can let HDB keep the title deed FOC. If you want to keep yourself, just make an appointment with HDB officer during office hr and collect yourself.

No one can take ur title deed to apply Bank loan b'coz title deed has your name.

[hopeful]

you forgot Richwang mentioned that his relatives stay for over 70 years.
That's like 1940s. It is before computer age, and war against Japanese, civil war Kuomintang vs communists, and the cultural revolution against land owners, I would say a lot of records got destroyed.

If Richwang cannot find property certificate, sooner or later, developers will work hand in hand with local authorities to evict them out.

Anyway, since it is printed on paper, and unlikely to kept in air tight condition, condition, Richwang, if managed to find it, handled the certificate with care, it may just turn to bits and pieces.

[ysyap]

Believe it or not... this scenario is also true in Malaysia. My grandparents bought a piece of land some 50 years ago but have since misplaced the title deed. Now, the children cannot sell that property and some unpleasant issues emerged...

[Komo]

How about losing car log card? Can someone use it to get loan, though it has my name?

[ysyap]

How about losing car log card? Can someone use it to get loan, though it has my name?

Cannot lah...

[maisonjai]

How about losing car log card? Can someone use it to get loan, though it has my name?

car log card, still got meh? I thought now use singpass to log on & print as many as u want like QE2.