Scenario
Purchasers/owners of the property often make assumptions that once the “Memorandum of Transfer” (MOT) is presented to the Land Registrar and they have successfully obtained the “Presentation slip/receipt” meaning he/she is the Registered Owner of the Property.
Mythbusted.
In theory, the law only recognizes the title of the property once the purchaser/owner has the “TITLE DOCUMENTATION” that writes the NAME of the owner in the TITLE. Purchasers should understand that upon submission of the MOT the title is merely “pending transfer” and are NOT considered as the REGISTERED OWNER!
So, how much did you know about this Legal Myth?
Share with us your thoughts and feedback to us. Ask us a question on AskCA@Thursday or suggest a Myth Buster for us.
Thanks!