House Deed

Locus

Say if I was to held the deed to my house and the mortgage lender did not possess it, would I legally own the deed to the house because I hold the document but a mortgage still stands?

Bossyboots

What are you defining as a "deed". If it is the bit of paper that states who owns the property, you own the property with or without it. That "deed" does not establish ownership of the property by ownership of the document. You can after all go onto the internet and buy a copy of the document from the Land Registry. Even if neither of you had the deed, you would be the house owner and the mortgage company would simply have a mortgage on the property which you have to pay off in accordance with the agreement you made with them. Your house is their security against default and if you do not pay, they will still have to obtain a court order to have the house sold before they could do anything to recover their money. However, if you default on the mortgage, a court will grant the order and the mortgage company will take over selling it and pay you any difference between what you owe them and what they make.

Locus

Bossyboots wrote:

That "deed" does not establish ownership of the property by ownership of the document.

That has answered my question.