Title Plan holders must secure a mortgage deal or sell their assets by 2025

September 18, 2020 – If you are buying a Mount Vema Title Plan, you are free to buy and sell for profit at any time. However, by the year 2025, you must either sell the Title Plan, or work to secure a mortgage deal. Title Plan holders who intend to sell and cannot find a buyer by then, the government will buy the Plan at the market price.
 
This rule was designed to close the Title Plan Reservation market by December 31st 2025, when the practice will become illegal. From 2026 Mount Vema property buyers will have to go through the standard procedure of making an offer, pay the 10% to exchange and then pay the remaining balance upon completion.