Originally Posted by
spartan301
On a case to case basis banks do "deed of undertaking". While you're still processing said transfer of ownership, you execute a Deed of Undertaking wherein you undertake to deliver to the bank within x no. Of days the derived title (under yur name) and the annotation of mortgage on said title.. U also sign a real estate mortgage wherein the tct no. Will be left blank but the property description is already indicated. This will be notarized once the new title comes out..
However u need to show to the bank that title transfer is nearing completion... When you said being processed, have u already paid the doc stamps and capital gains? At what stage of the transfer are u exactly on?
If you're not yet on the CAR level, better get there before considering this suggestion... If yur short for d capital gains n doc stamps, mortgage yur vehicle and pay a processor to fast track said transfer of tct..
Gud luck on yur biz!
thank you sir! very useful information!
Reply With Quote
Posting Permissions
