Should we keep the original copy of the title deed or let HDB safe keep it?

Recently I redeemed my Condo apartment bank loan. Although using our CPF for part of the purchase , I was shocked to hear that CPF is holding on to our title deeds. Why?

Great to hear that!

For the title deed, it’s advisable to keep it with HDB. In the event if it’s misplaced or lost, you will have to pay legal fees up to $1,000 depending on the size of your flat and the process is gonna be very tedious.

Some things to take note:
1) You have to make an appointment for the redemption of the loan with HDB one month in advance. All owners must be present at the appointment with NRIC.

2) You will need to pay the registration and conveyancing fees for the Total Discharge of Mortgage (TDM).

Registration fee (only for lease-issued cases):
$38.30

Conveyancing fee:
1-room $23.50
2-room $35.30
3-room $47.05
4-room $58.85
5-room $70.60
Executive $82.35

After the redemption of the loan, HDB will send your parents a letter to collect the title deed in 3-6 months. You can choose to ignore it if you want to keep it with HDB.

Hope it answers your question!