Solicitor has lost our deeds

Rob_192

vax2002 wrote: »

They are not held, they are "deposited" so they can be loaned against and converted in to bonds.

Really! How does that work then?

Best place for your deeds is in your own hands.

Hmm! I tend to agree:D

zzzLazyDaisy

GDB2222 wrote: »

I am a bit surprised that a solicitor agreed to hold these docs for you.

I don't know why you would say that? It is fairly common practice.

The paperwork relating to the purchase of my house is held by my solicitor. Although the property is registered, there are various warranties and permissions relating to building work carried out by the previous owner which would be inconvenient to lose.

I have no doubt that they do this in order to make it more likely that I will use them on any future house move, but I would anyway.

OP, it isn't the end of the world - everything can be replaced and the solicitor should do the donkey work for that and provide you with replacement documents. The actual 'deeds' are completely superfluous because the buyer's solicitor must obtain fresh copies anyway.

GDB2222

I thought ity was more common where the solicitor had done the conveyancing in the first place. To take in A N Other's deeds without that seems rather strange, as there is no existing business contact.

Richard_Webster

Although the property is registered, there are various warranties and permissions relating to building work carried out by the previous owner which would be inconvenient to lose.

They are not deeds but are normally kept with the "deeds" and it so those documents that are important rather than the deeds themselves if there are any.

Occasionally these documents can be very valuable.

For instance if you had a long leasehold house and when you bought it your solicitors pointed out that there was no consent for a massive extension as required by the terms of the lease. The seller's solicitors might then have written to the the little old lady who owned the freehold for such a consent and she wrote straight back with the consent and didn't charge anything. That letter could be very valuable if the freehold is now owned by some toxic property company who would charge £x,xxx for a consent!

Obviously this sort of situation doesn't happen very often and in most cases it is only things like planning and building regulation consents that have to be replaced.

Yorkie1

The restrictive covenants for my house aren't specifically detailed on my LR entry - they refer to the conveyance. Fortunately I have a copy of the original conveyance, but if that got lost then the LR entry would be inadequate.

hotpot1000

I was told by the bank and thier solicitors that I didnt need my deeds when they lost them.

Now Im selling my house, my solicitor wants my copies for the buyers sols as well as the more recent official copies which will obtained.

Richard_Webster

The restrictive covenants for my house aren't specifically detailed on my LR entry - they refer to the conveyance. Fortunately I have a copy of the original conveyance, but if that got lost then the LR entry would be inadequate.

Normally the restrictive covenants will either be set out in the registers or it will be stated that a Conveyance dated ## made between XX and YY contains restrictive covenant. Copy Filed.

If it says, as it should do, "Copy Filed" then you can order a copy from the Land Registry.

Yorkie1

I shall double check, thanks Richard.