Certifaicate of Title Transfers?

[AndrewS]

From: Andrew S


I am curious as to the concept of "wraps" (yes again).

I am having a little trouble getting my head around the concept of buying a property with finance from a bank. The bank retains the title. Then I sell the property before the title is in my possession, with the bank maintaining a significant interest in the house?

At what stage does the title get transferred? Does the title remain with the bank until the mortgage is repaid, and then the title transfers from the bank, to me, then to the purchaser?

Or am I way off the mark?

Regards

Andrew

 

[WebBoard]

Reply: 1
From: John P


To help you understand wraps, I have a free report that may be of interest.

It also outlines a new wrap kit that just been released on the Aust market.

The report is a bit long for the forum, so just email me, and I will send it to you.

email : [email protected]

Regards

 

[DaleGG]

Reply: 1.1
From: Dale Gatherum-Goss


Hi

Yes please, I am always interested in further reading. Could you please send it to me on:

[email protected]

Thanks for that

Dale