YOUR TITLE DEEDS: MISSING PRESUMED…?
I renewed my car tax last month. It is probably the only time of the year where I have to make sure I know where my car insurance certificate, logbook, and MOT certificate are kept. Also, having moved house, the details on the logbook needed updating, but could I find the logbook or reminder? Not at all.
It was all sorted in the end, but it reiterated the importance of knowing where your documents are kept.
Now, I have come across a recurring problem when dealing with property sales over the past six months: clients cannot find the original title deeds to their property. These are essential when it comes to selling or (re)mortgaging the property as the buyer or lender will want evidence that the owner ‘owns’ (i.e. has title to) the property.
If you bought your property since 1990, it is conceivable that your property has been registered with the Land Registry. What this means is that you can obtain a copy of your property deed by ordering this online for a small fee. Even if you misplace the original deed, you can usually obtain copies from Land Registry without any serious concerns.
However, if the property has not been sold or mortgaged since 1990, it is possible that the property is unregistered, which means the deeds to the property will consist of a large bundle of documents such as conveyances, assignments, mortgages, and Land Charges searches. If these documents get misplaced, then any chance of a quick conveyancing sale disappears.
If you have a bundle of deeds and you know they require registration, I would strongly advise that you get them registered. The benefits of registration, according to the Land Registry, are that it establishes proof of ownership and produces an easy-to-read document reflecting the contents of all the paper title deeds. This simplifies conveyancing, making transactions easier and potentially less costly for all involved.
And…it makes our job as solicitors easier too!
Gwyn James offers registration services including:
· First registrations of deeds;
· Tracing of title deeds; and
· Registration based on lost or missing title documents
If we can assist, please give us a call or drop us an email.
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