Why having title is better than no title? Why title is so important?
A title is not that important most of the time. Most of us are staying in properties without a title. Most development would only hand over the title after many years. Yet, what is the purpose of the title?
The purpose of title is ownership. Without the title, you can stay in the property, but you cannot prove that the property is yours. It is like you have a car. You drive the car around, but you cannot prove that the car is yours. How important is that? It is very important, as dealings in property depends on this title document. Without it, you cannot deal with the property much.
To go to the court or land office, this title document will make the complicated process simple. Another thing to emphasize here is indefeasibility of title under the torrens system – the land administration system we have in Malaysia. To hold a title, you make lot of things simple in your way. Without title, life is complicated.
Tomorrow, we talk about title and without title in more detail.