If you apply for a mortgage loan, the bank will have to consult several documents on the basis of which it will decide whether or not to grant you financing. Among these there will certainly be thedeed of origin. If you don’t know what it is, don’t panic. In this article, we explain what it is and how to request a Provenance Deed for Mortgage.
The deed of origin of the property is nothing but the public deed by virtue of which the legal ownership of the property is attributed to a subject, to a natural or legal person. In particular, it may consist of:
- a notarial deed or a private writing (for example, purchase, sale, gift, division)
- a declaration of succession, a
- court judgment (for example a deed of assignment by the Court of First Instance)
To learn more, we recommend that you read the article dedicated to types of original acts.
The deed of origin is essential in different situations, for example when you need to take out a mortgage loan. It allows the bank to check whether the borrower has a valid guarantee on the property which is to be mortgaged. However, when the credit institution requests this document, the borrower may not know or understand which document is requested.
Who issues the original real estate deed for mortgage
The property offered to secure the mortgage may be received by the borrower under a deed of purchase, gift, division, inheritance or other public deed. In each house, the bank must ensure that the borrower is not only the rightful owner, but must also verify the nature and share of real rights. How? ‘Or’ What ? By the original document. In concrete terms, the search for the original mortgage building deed can be carried out by requesting the documents highlighted below.
The transcript note
After the signing of a public document, the transcription must be made in the public registers of the Conservatory of real estate registers. This is a legal obligation that aims to provide public evidence of transfers of real rights. Thanks to a specific software, UniMod, the online transcription note is prepared, which is nothing but a summary of the essential data contained in the law. The transcription note is an act with legal value that can be produced at the bank as an original mortgage immovable deed.
The telematic title
Unlike the note, the telematic title does not correspond to the summary but to the exact copy of the notarial deed. This is an innovation available recently on the Revenue Agency’s Sister platform. The deeds available as a telematic title are as follows: Original was earlier, it will not be available as a telematic title on Sister.
The vision of the original act at the Conservatoire
Not all notarial deeds are available online on the Sister platform. As an example, the mechanization or computerization of notarial acts in Italy began in the early 1980s. Earlier notarial acts can still be inspected in the paper archives of the Conservatory. Research is not easy, so it is always better to rely on an expert visual. His task will be to carry out an initial search in the paper directories of names. Once the directory number of the person, physical or legal, being inspected has been identified, the viewer will request to review all public records. Among them, the original act will be identified. It is not possible to request a copy of the act from the Conservatoire. The spectator will only transcribe the essential data into a paper document.
The copy of the Notarial Deed
The bank can request as original document the authentic copy of the notarial deed. It was noted that it is not possible to request a copy from the Conservatory of Real Estate Registers, how should one operate? There are two routes, alternatives to each other. The first request must be submitted to the notarial office entered in the deed. Of course, you must first check whether the notary is still doing business or not. If so, for the request for a copy of the notarial deed, it is necessary to indicate:
- the name of the notary
- the date of signature of the notarial deed
- the number of directories
- the type of act (purchase and sale, gift, division, etc.).
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If the notary no longer exercises the activity, the original deed can be sought from the archives of the notaries of the district of competence. In both cases, the issue of a copy of a notarial deed is subject to the payment of stamp and trademark duties which vary according to the number of pages (in the case of purchase and sale) or the value of the gift.
The Twenty Year Mortgage Report
The conclusion of a mortgage contract secured by a mortgage loan on a property requires the intervention of the notary public. The latter must carry out all the checks required by the bank as part of a 20-year mortgage review. And this is where another subject comes in, namely the visoriste who will have to carry out a fundamental activity in support of the notary.
All of
first, he will have to provide all the useful elements for the search of thedeed of origin well, which must be carried out within the twenty years preceding the date of the act, but it can also be extended up to thirty or forty years earlier. Through , therefore, look for all the subjects involved in the various transfers of ownership of the property. At this point, the visual artist will need to identify the first notarial deed that conferred ownership of the property during the aforementioned period.
Once the origin has been established, we will verify the continuity of the transfers of real rights, as well as looking for mortgages, encumbrances, easements, transcripts, or records. The last element that will complete the twenty-year mortgage appraisal will be the appraisal of the cadastral compliancewhich is one of the obligations of the notary public (Cass. not. 20465 of October 11, 2016).
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