Just got our title deeds back what now?

seamie78

Hi all

Hope im posting in the right spot, basically we have recently finished paying off mortgage and the bank sent us our title deeds in the post, what should we do with them regards storage, are they very important to keep safe?

Thanks

seamus

Yeah, pretty important. Speak to your solicitor about options and what they think is a good idea. If you lose them, getting the deeds reissued is a painful process. Maybe not a concern for you if you never plan on selling, but certainly tripling the pain for whomever has to manage your estate.

Some people opt for the fireproof safe in the house. Cheapest in the long run, but could get messy if you die and nobody knows how to get into the safe. The safe also becomes something of a target for thieves; i.e. if they spot it, they'll take it if they can to try and open it somewhere else.

Safe deposit boxes are the other option, e.g. merrion vaults, though not cheap in the long run.

seamie78

thanks for your reply, guess I will have to find a solicitor

NUTLEY BOY

Irrespective of where you store them consider making a copy of the full set especially if it includes vacation or redemption of a mortgage.

Keep the full set in a location different from that of the original documents. If you are really high-tech you could keep a copy in the cloud - I would prefer a deeds bundle on which I can lay hands.

Even if you are getting your solicitor to store them I would still ask for a copy of the full set and get each page signed by the solicitor as being a true copy.

I appreciate that this could be a bit awkward if your deeds bundle is of the old fashioned style with some sheets like newspapers. However, lost title deeds are a massive pain and possibly costly to reconstitute. Sod's Law says that they will go A.W.O.L. just when you need them for some future transaction !

Mr. Incognito

If they are Registered Title then the Deeds are superflous and dont need to be overly minded.

If the title is unregistered speak to a solicitor about registering the title. They will also store the Deeds in a Fireproof safe. I'd ask them to do a will at the same time which is relatively cheap and will take care of your now unemcumbered asset when you die.

dats_right

Mr. Incognito wrote: »

If they are Registered Title then the Deeds are superflous and dont need to be overly minded.
.

This is overly simplistic and bad advice. Usually, 'title deeds' include copies of lots of relevant documents (which while technically not 'title' documents) are absolutely necessary to sell the property, such as planning permissions, architect's certificates of compliance/exemption with planning and building regulations, evidence of compliance with financial conditions of planning, etc.

If selling or remortgaging it may be possible to reconstitute or obtain copies of public documents such as folios, planning permissions, etc. but it could be necessary to pay architects fees to obtain new certificates if the originals are lost.
The point is to take care of your title deeds irrespective of whether your property is Land Registry or Registry of Deeds.

seamie78

thanks to all for your replies, I think the idea of copies is a good one and store in two different properties with the originals in a fire proof safe