What happens if a fire or flood damages the property between signing documents and actual registration?

This kind of gap, however short, is exactly why real estate lawyers pay close attention to insurance and risk-of-loss arrangements around closing, since it raises the question of who bears the loss if something happens to the property after the deal has effectively closed in practice but before registration is fully complete. The answer depends heavily on the specific wording of your Agreement of Purchase and Sale and any gap or escrow closing arrangement, since these commonly address who carries insurance risk during exactly this kind of window.

If significant damage occurs, your lawyer will need to review those terms closely to determine whether you, as the party who was to take possession, or the seller, who technically still held registered title, bears responsibility, and how any available insurance proceeds should be applied. This is one of several reasons buyers are generally expected to have their own insurance in place and effective from the moment they take possession, rather than waiting until registration is confirmed. If you find yourself in this situation, get your lawyer and insurer involved immediately, since both the legal responsibility and the practical next steps depend on your specific paperwork.