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Any risks with releasing original property title deed to family member?

Any risks with releasing original property title deed to family member?

Old May 12th 2019, 8:50 pm
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Default Any risks with releasing original property title deed to family member?

How does the system work in Australia, or NSW to be precise if this is a state issue? Is there any risk involved in releasing the original property title deed (currently held at a law firm) to a family member so that they can hold onto it for a few months until I am able to pick it up in person?

Before releasing it the law firm is asking for a statement that "I am aware of the risks associated with releasing the original title deed to XXX..." but since I am currently abroad I thought I'd ask you guys first instead of going through the hassle of arranging a special phone consultation with the law firm, etc.?
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Old May 13th 2019, 11:23 am
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Default Re: Any risks with releasing original property title deed to family member?

Originally Posted by astera View Post
How does the system work in Australia, or NSW to be precise if this is a state issue? Is there any risk involved in releasing the original property title deed (currently held at a law firm) to a family member so that they can hold onto it for a few months until I am able to pick it up in person?

Before releasing it the law firm is asking for a statement that "I am aware of the risks associated with releasing the original title deed to XXX..." but since I am currently abroad I thought I'd ask you guys first instead of going through the hassle of arranging a special phone consultation with the law firm, etc.?
No idea if there are risks, but I will be watching with interest when the questions start coming as to why.
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Old May 13th 2019, 2:19 pm
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Default Re: Any risks with releasing original property title deed to family member?

Why the hurry, why not just leave it with the lawyers until you pick it up?

Why not just pay for FedEx, DHL etc, to deliver it to you (in Singapore?)?

I believe that the risk would be that the title is lost or destroyed and it would be a PITA to get it replaced, and that the bearer of it could use it fraudulently by impersonating you and either purporting to sell it, or use it as security for a loan - either way would create a situation that would require some time, and probably expense, to unravel.
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