Have you ever wondered why real estate valuers ask for the title deed before starting the valuation process? In fact, real estate valuation depends on many factors, and before the valuation, the valuer verifies the accuracy of the property data. Therefore, the title deed is one of the important documents, as it provides a lot of important information, such as the official owner of the property, the area of the property, its type, and other information that affects the value of the property.

In this article, we will explain what a title deed is and why it is one of the most important documents in real estate valuation.

What is a title deed?

A title deed is one of the most important documents, as it proves ownership of the property to a specific person and clarifies the type of property, whether it is land, a building, a residential unit, or a commercial property. There is a lot of important information in a title deed, such as the name of the owner, the location, the boundaries of the property, its area, and the type of use of the property.

The importance of a property title deed lies not only in proving ownership of the property, but also in that it is the most important document and reference in any real estate transaction, such as sale, purchase, mortgage, and real estate valuation. Without it, procedures such as the following cannot be carried out:

Sale and purchase:

The ownership of any property can only be legally and officially transferred if there is a title deed. Upon completion of the sale and all procedures carried out at the Real Estate Registration Department, the old title deed is canceled and a new title deed is registered in the name of the new buyer. This procedure protects the rights of both the seller and the buyer.

Financing and mortgages:

The title deed to the property is an important and indispensable guarantee when obtaining any Finance loan, as banks and finance companies rely on the deed to ensure that the property offered as collateral is legally owned and free of any disputes or restrictions that would prevent the transfer of ownership in the future.

Real estate valuation:

In the case of valuation, the title deed is an important document without which the process cannot be completed, as the real estate valuer evaluates the property based on many factors such as area, location, boundaries, and other factors. A certified real estate valuer or property valuation company then compares the property title deed with the actual information during a field visit. The deed also facilitates legal procedures and protects the owner from any future disputes or disagreements, as it provides official and certified proof of ownership of the property.

In short, a property title deed is not just a piece of paper, but the cornerstone from which all real estate transactions begin, as it guarantees the owner’s rights and helps protect all parties from any potential disputes or legal issues, whether in sale, purchase, financing, or mortgage. It is also an essential tool for real estate valuers to accurately determine the value of a property by matching official data with actual reality.

How can I obtain a replacement deed electronically?

After discussing the importance of a property deed and how it is an important document in all real estate transactions, as there are many legal and financial risks that may be incurred if there is no property deed, especially in disputes or when someone else claims ownership of the property, With the digital development witnessed by the Kingdom, a replacement for a lost property title deed can be obtained through the Najiz platform.

A replacement title deed is an official document issued by the Saudi Ministry of Justice as a substitute for the original title deed in the event of loss, damage, or destruction. It has the same legal force as the original deed and can be relied upon in all official, real estate, and financial transactions.

To obtain a replacement deed from the Najiz platform, the following requirements must be met:

For individuals:

A valid national ID.
The number of the lost deed (if available).
Property details (location, area, plot number).
A police report (in some cases).

For companies and institutions:

Valid commercial registration.
Copy of the articles of association.
Official authorization from the authorized signatory.
National ID of the authorized signatory.

For heirs:

Deed of inheritance.
IDs of all heirs.
Official power of attorney if one of the heirs represents the rest.

When using the Najiz platform, the following steps must be followed:

Access the Najiz platform: Start by accessing the official Najiz platform website, then log in via the National Single Sign-On, and then verify your identity using a text message or an approved verification method.

Select the replacement service: Select “Document Services” from the “E-Services” menu, then click on “Request a Replacement Document” and read the terms and conditions before agreeing to them.

Enter the instrument details: If you know the number, enter the instrument number and date of issue, and the system will automatically display the property details. If you do not know the number, you can search by ID number to display all instruments registered in your name, then select the required instrument.

Fill out the application: When filling out the application form, select the reason for requesting a replacement, then enter your contact details and attach the required documents, if any. After that, review all the details to ensure they are correct before submitting.

Payment: The system will display the amount due. Select the appropriate payment method and complete the payment process to obtain your order number and payment receipt.

Confirmation and tracking: After completing your order, you will receive a message confirming the registration of your order on your phone or email, and you can track its status through the “My Orders” option on the Najiz platform.

Receiving the document: Once your request has been approved, you can download the electronic document in PDF format from the Najiz platform and use it for all official transactions. If you would like a paper copy, you can visit the relevant notary public with your national ID and request a number to receive a certified copy.

It is advisable to ensure that all property details entered match those previously registered. You must also keep the application number and payment receipt for reference when needed, bearing in mind that the application may be referred for manual review in the event of any comments or disputes regarding the deed. It is also preferable to keep an electronic copy of the deed in a safe place to avoid losing it again.

In conclusion, a property title deed is an important document in all real estate transactions. In order for the real estate valuation process to be carried out properly, you must rely on a certified real estate valuers or property valuation company with extensive experience and knowledge of the real estate market and its requirements in the Kingdom, in order to protect the owner and investor from any legal or financial risks. Contact Aain Valuation now and get a real estate valuation report that will help you in all your real estate transactions.

Frequently asked questions:

What is the difference between a paper deed and an electronic deed?

A paper deed is a printed document that is susceptible to loss or damage and requires review by the relevant authorities to make any amendments. An electronic deed is digitally standardized through the Najiz platform, is more secure and difficult to forge, and can be updated directly. Electronic deeds can be used in all real estate and official transactions.

What is the best proof of property ownership?

The best proof of property ownership is an electronic deed that is always available through the Najiz platform. It is issued with a QR code for immediate verification of its authenticity and is updated when any data, such as ownership or location, is modified. The electronic deed is also officially approved for all banking and judicial transactions and state records.

What is the purpose of a real estate valuation?

Real estate valuation is used to determine the true market value of a property based on accurate data, including the property’s area, location, type, and other information, in addition to other documents such as the title deed. The valuation aims to support financial and investment decisions and protect the owner and investor from any legal or financial risks.

Why is the title deed important in real estate valuation?