19 Sep '16, 3am

Paperless deeds a step forward - STProperty

Paperless deeds a step forward - STProperty

The vision for entirely paperless property transactions may seem abstract, but home owners can already benefit from improvements made in this area. The Singapore Land Authority (SLA) launched a new online service - MyProperty - last week which allows home owners to view their own property title information for free. Previously, owners had to pay for this information via the SLA's website or over the counter. Most home owners do not actually keep their titles as their properties tend to still be under mortgage, so the titles are stored with the bank or the Central Provident Fund Board. The SLA's shift towards a paperless system means all property transactions could eventually be carried out online. The transition would save costs and time. Currently, if an owner misplaces his property title deed, he cannot transact the property and the process of replacing a lost title deed...

Full article: http://www.stproperty.sg/articles-property/singapore-prop...

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