Lost Deeds

Hi,

I'm looking for some advice please.

We went sale agreed on a house last September. This house is a repossessed property.

Since Sept it's been a long and stressful struggle to get to the point we are at today.

It transpires the repossessed houses deeds are missing. The bank nor the receiver had them and it's taken them this long to contact the solicitor of the former owner. He has stated that he's lost them and immediately on hearing this, the bank are sending out a Field Based Operative to visit the solicitors premises in Monday morning.

I'm at my wits end and just want to give up on this, however my husband is adamant to see it through. Our daughter is starting school in Sept and I want a house by then.

Can anyone advise on what exactly this Field Exec from the bank intends on doing on their visit - when they've been told already the deeds are lost?

Can they be replaced and how long does that take?

Will our mortgage lender accept replacements?

What's the timeline on something like this being rectified?

My head hurts from it all!

Thanks

A lot of the jargon goes way over my head - so it's better to talk to me like I'm a 5 year old in this regard)

Ok just found out a new piece of info.

The house is registered and I have the folio number and apparently from what I read online, the originals of everything is kept there.

Is this true?

First off IANAL!

Overtherainbow - so it's no fun when Title Deeds are lost; but it does happen, sometimes by negligence, sometimes by flood or fire damage. It's a bit of a pain, but not an insurmountable problem. The fact that the property is registered is a big help. So far as I understand it, all that's needed is for an affidavit to be sworn stating what has happened.

More info here: http://www.prai.ie/lost-deeds

I found this also (didn't see a date on it, so don't take it as gospel, but still helpful info)
[broken link removed]

Buying a house is very stressful and I can understand how you want to be settled, but stay as calm as you can and it'll go easier. Best of Luck.

Thanks very much for your reply. Yes stressful is one word for it, I wish it was over!

I'm hoping now that everything is with the land registry and not lost at all.

It's a farce. A house that no one knows anything about! Not even the bank that is selling it

This is a repossessed property. There will be little or no co-operation from the original owner. Very likely the people who are selling ( be it a bank or a receiver) have little interest in the process - it is more hassle than it is worth.

The title is easily re-constituted as it is a registered title. The planning situation is harder but with effort could be re-constituted .

This is one of those situations where you need to be guided by your solicitor.

Is it likely that these issues will be resolved in a reasonable timeframe or would OP be better to look at a property that does not have these issues?

It may well be the case that price is a factor - good price but problems to be dealt with.

mf

Hi mf,

Yes it's a registered property.
My understanding is nothing needs to be reconstructed if this is the case?

The receiver is selling on behalf of the bank - ironically we just found out the selling bank is the bank we have our mortgage with. Hilarious. The people holding it up are the sellers.