Procedures for a TAPU

[Sunnyshores]

can someone please explain to me what happens in the period between the developer applying for your TAPU (when you have paid 100%) and you actually receiving the paperwork in your hand some 2 months later?

ie who wons the property in those 2 months?

Also, in the instance of there being a 3rd party owning the land (not the developer),who owns it in that 2 month period?

Thank-you