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What is the difference to someone having a bond on a property and someone that has paid off the bond and has possession of the tittle deed.

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People who have a bond on a property pay for the property in installments. The title is transferred to them after the payments are made in full. Buyers receive the tax benefits of owning a home, but do not have possession of the deed. If the buyers miss a payment, they can lose some or all of their investment, they can be declared in default and formally evicted. Furthermore, as the buyers do not have the title to the property yet, they can not resell or rent out, or do renovations to it as if they have already own it.

If the buyers have paid off the bond and have possession of the tittle deed, they actually own the home, they can do anything they like to the property, rent out, or resell it.

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