Title

A title involves registering ownership rights to a property, unseparated parcel or designated share in the title and mortgage register.

All property owners are required to obtain a title for their property, unseparated parcel or designated share. The title obligation applies to both private persons and organisations.

A title should be obtained as soon as possible after signing the deed, because the property owner will not be listed as owner in the title and mortgage register until the title has been issued. A title is also a requirement for using the property as debt collateral.

A property is generally a space or lot listed in the cadastre (property register); a designated share comprehends partial ownership of a property (e.g. ½); and an unseparated parcel is generally a designated area inseparable from the property. Regulations concerning parcels, however, also apply to areas separated from a common area as well as a common area partition belonging to a property if it is transferred separately.

When a property or other object mentioned above changes owners, i.e. when a fixed asset is transferred from one owner to another, a title must be obtained for the acquisition. An acquisition involves gaining ownership of a property. Acquisitions include property sales, exchanges, gifts, apportionments, inheritances and testaments.

The validity of an acquisition is verified in the processing of a title claim.