Understanding Property Deeds and their Importance
When you purchase a property, you acquire vital paperwork that proves your ownership—the property deeds. Here's a breakdown of what property deeds are, their significance, and how to keep them secure.
What Are Property Deeds?
Property deeds are legal documents that record ownership of a property and its associated land. These documents are maintained by HM Land Registry. It's mandatory to register a property with this body upon purchase, inheritance, receipt in exchange for other property or land, or when taking out a mortgage.
Once a property is registered with the Land Registry, they retain a scanned copy of the original title deeds while returning them to the submitting party, typically the solicitor or conveyancer.
Appearance of Property Deeds
Title deeds are not typically physical papers unless they are the originals. Copies are electronically stored and updated with each property transaction, serving as an ongoing logbook of ownership changes. When you purchase a property, your solicitor will provide you with a copy of the 'registered title' within a month of completion.
Land Registry Fees
Fees for Land Registry applications vary based on the transaction type, such as first registration or property transfer. Your solicitor will discuss the exact costs applicable to your property.
For detailed fee information, visit gov.uk.
Do You Need Property Deeds to Sell a House?
If your property is registered with the Land Registry, you don't require physical deeds to confirm ownership and proceed with a sale. The Land Registry holds the official record of ownership. However, retaining a copy of your deeds is advisable for additional information, such as legal boundaries.
In cases where the property was already registered upon purchase, the seller may not provide the original deeds. It's challenging to trace original deeds for frequently sold properties. However, you can access scanned copies held by HM Land Registry by searching for your property's title number.
Safekeeping of Property Deeds
Given that HM Land Registry retains electronic copies, you can keep your own copy of property deeds at home for convenience. Store them alongside other important documents in a folder or filing cabinet to ensure they remain safe and accessible.
What If Property Deeds Are Lost?
While it's unlikely to lose digitally registered deeds, original deeds for unregistered properties must be safeguarded by the seller. If you misplace proof of ownership, contact the solicitors who handled the property's sale to submit a deeds request form to HM Land Registry. A small fee may apply for this service.
If original deeds cannot be located, alternative evidence of ownership must be provided.
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