How to recover thedeed of provenance of a propertyin order to be able to sign a mutual? This document is essential so that the bank can evaluate the requested loan: without the deed of origin, in fact, the mortgage cannot be taken out. But where is it, and who can I ask for a copy of it?
Fortunately, requesting the deed of origin for mortgage purposes is not a complex operation: you can contact the notary who stipulated it or, alternatively, make use of Public Registers who keep a copy. Naturally, before collecting all the documentation necessary to request a loan from the credit institution, it is useful to use online tools to find the best mortgage for your needs.
Why is the deed of origin needed for the mortgage?
As mentioned at the beginning, the deed of origin of the property represents an essential document in order to submit the loan request to the bank. For what reason?
When preparing to request a mortgage, be it the purchase of a property or a request for liquidity for renovation work, the credit institution needs to conduct some checks. In addition to the appraisals on the property itself, and the checks on the possible ability of the applicant to repay the debt, it is necessary for the bank to ascertain the actual title deeds to the property. Through the deed of origin, consequently, the credit institution:
- can check that the seller is the real owner of the property and, again, the nature and shares of the rights in his enjoyment;
- can verify that, in mortgage financingthe applicant actually has titles to the property.
Without this document, consequently, the credit institution is unable to finalize the loan request and, consequently, the loan will necessarily be rejected. To avoid running into this obstacle, the advice is to follow a step by step mortgage guideso as to know all the necessary steps in advance.
Where is the deed of origin of the property for the mortgage located
As is easy to imagine, the property for which you want to request a mortgage can have the most diverse origins, origins that the bank needs to check before accepting the loan. Among the many possibilities, the property in question may come to the applicant following a deed of sale, thanks to a donation or as a consequence of an inheritance. Furthermore, the provenance could have been established judicially, for example in the case of a foreclosure and subsequent sale at auction.
For recover the deed of origin, in order to be able to deliver all the relevant documentation to the bank, it is therefore necessary to reconstruct its origin and consequently contact the bodies or individuals responsible for issuing it. Additionally, the document may be available in several forms:
- as a private deed or notarial deed;
- as a declaration of succession;
- in the form of a judicial sentence.
The transcription note of the deed of origin
Generally speaking, every public act that provides for the transfer of a real right – such as ownership of a property – must have public value. Consequently, it will be transcribed within the Public Registers of the Real Estate Registry.
For the purposes of collecting the documentation suitable for the mortgage, the first step could be to request the relevant transcription note: this is the summary of the essential data of the deed itself, sufficient for most banks to verify the origin of the property . To obtain the transcription note you can:
- proceed onlinetaking advantage of the Revenue Agency portal or the various websites that make this service available;
- go to Conservatory of Real Estate Registers.
The electronic title of the deed of origin
If the bank chosen for the mortgage does not consider the transcription note of the deed of origin sufficient, but wants complete documentation, it is possible:
- always contact the Real Estate Registry to obtain it transcription on paper document;
- obtain the related electronic title – therefore the full version, not the summary – via the Sister portal of the Revenue Agency. However, it is useful to underline that the electronic title is only available for deeds stipulated from 2014 onwards.
The certified copy of the deed of origin
But what to do if the bank requests the authentic copy of the deed of origin? As we have seen, the transcription note contains the essential information on the origin of the property and, no less importantly, transcriptions can be obtained from the Real Estate Registry, but not the original copy.
Based on the credit institution’s request, it is possible to obtain a certified copy:
- at the notary’s office who carried out the last act on the property. In this case it will be necessary to provide the name of the notary, the date of signature of the deed, the register number and the type of the deed itself, for example for sale or donation;
- if the notary is no longer in business, a copy can be requested from theDistrict Notary Archive competence. In this case, it will be necessary to pay the tax stamps and the related fees, depending on the nature of the document and its number of pages.
The preliminary notarial report in the event of a sale
It is also useful to underline that, in the case of the sale of a property with a simultaneous request for a mortgage, the bank will ask the notary in charge to draw up the twenty-year relationship – or preliminary notarial report – on the property.
It is a document that reconstructs the legal history of the property, dating back at least the last twenty years, reporting all the data and cadastral compliance, the related changes of ownership, mortgages, encumbrances, foreclosures and much more. It is therefore very likely that, at this stage, it will be the notary himself who will retrieve the relevant documents of origin of the property, so that the bank can ascertain whether the seller enjoys legitimate rights and is actually the owner.
How long does it take to get the deed of origin?
But How long does it take to obtain the deed of origin? Much depends on the chosen method and, naturally, on the bank’s requests: the transcription note can be recovered relatively quickly, the authentic copy of the deed can take much longer. Generally speaking, it can take anywhere from two weeks to a month and a half.
And i costs? These can also be very variable. If you turn to the public registers, or to the notary of origin, between tax stamps and rights you can end up spending around fifty euros.
Tags: recover mortgage idealistanews
