lending institution cannot find any mortgage documentation

newsmartphone

hi folks


say for example,

if a lending institution cannot find any mortgage documentation, due to ineptitude on their part, where does one stand ?

can one simply say, what mortage? or wtf are the deeds?

what would be registered with the land registry / registry of deeds?

Procrastastudy

newsmartphone wrote: »

hi folks


say for example,

if a lending institution cannot find any mortgage documentation, due to ineptitude on their part, where does one stand ?

can one simply say, what mortage? or wtf are the deeds?

what would be registered with the land registry / registry of deeds?

Pre or post 2009? Registered or Unregistered land?

mickdw

Well I wouldnt go sending them a copy of my agreement to pay them x amount for the next thirty years.
It wouldnt be that easy to get out of though. They would have a lean recorded on your deeds which wont be dissappearing for no reason. If for some reason, the solicitors never got round to registering the banks interest in your property on the deeds, there would still surely be transaction records and signed agreements at your solicitors.
Thats how I see it but knowing what went on in the boom, anything is possible. The banks relied on your solicitor for the most part.

newsmartphone

mortage taken out in 2005, from the crowd that was on Tv tonight.

Procrastastudy

newsmartphone wrote: »

mortage taken out in 2005, from the crowd that was on Tv tonight.

I dont have a TV sorry. Well not one that gets RTE et al.

Remember that you have a contract whether they can prove it at the moment or not. Either way you'll end up paying one way or another. Where is your copy?

If its registered land post 1964 a burden will be registered AFAIK - I don;t pay much attention in Land Law it has to be said.

Predalien

This kind of thing gained traction in the US where borrowers at risk of foreclosure demanded the lending institutions produced "the note" which was the document proving a debt was owed, the whole sub-prime thing was based around lenders selling on mortgages as investments, often in large bundles, and based on the assumption that house prices would continue to rise.

It's less likely here it as better records exist since most lenders kept the mortgage on their own books and there'd be less chance the documentation would be lost in a trail of transactions. As others have pointed out there is also the added security in that the mortgage is most likely registered as burden on the property's folio if the land is registered. You can get a copy of the folio online from the land registry to check this. If the land is unregistered it's a bit different but still likely the bank lodged a record of the charge with the registry of deeds and can prove the mortgage that way.

beazee

IBRC

Tom Young

No legal advice. The answer is no. Do a folio search on your property see who owns it.

Freeman nonsense.