Property deeds and where to keep them

Mamamia22

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A relative keeps a set of deeds in a safe in an outbuilding with other documents. He is due to get another set of deeds next year when another mortgage finishes. He has not made a copy of the first set yet. He is not keen on leaving either deeds with his solicitor because he is 70+ and likely to retire anytime. Is it recommended to keep deeds at home ? He is not keen on trusting a third party. Should he scan all the documents just in case. They are quite bulky and it would take hours to do. If there was a break in would burglars have any interest in deeds ?
 

NoRegretsCoyote

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The biggest risk here is loss, fire damage, or water damage.

Statistically far more likely that any of these will happen at home than in a professionally managed document storage facility.

But if he doesn't trust a third party then the best option is probably a fire-resistant safe in his own home.
 

Brendan Burgess

Founder
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No, burglars would have no interest in the deeds.

If they get burnt or lost, it will cost you a few grand to reconstitute them. But as it's very unlikely that they will get lost or burnt, I think a fireproof safe is a bit OTT unless you have lots of other documents and valuables as well.

Brendan
 

Sue Ellen

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Post 23 from mf1 (solicitor) in this previous AAM thread regarding deeds may offer further advice:

 

Mamamia22

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No other valuables just paperwork. I think flooding is unlikely as there is no water supply. Do others scan their deeds for digital back up ? If so what is the best method ?
 

NoRegretsCoyote

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Do others scan their deeds for digital back up ?
It helps but doesn't solve your problem if they are lost or damaged.


I think flooding is unlikely as there is no water supply.
There's the risk of water ingress or a humid environment which could lead to decay over time.

A safe is a second-best solution of course. Your relative should pay to have them stored professionally.
 

Mamamia22

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The shed is properly built I doubt water will be an issue. Unless there is a flood of biblical proportions. Why would scanning not be a good back up plan ?
 

Johnno75

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The shed is properly built I doubt water will be an issue. Unless there is a flood of biblical proportions. Why would scanning not be a good back up plan ?
Water or no, dampness is a problem in the Irish climate. Unless the outhouse is heated and insulated, dampness can adversely affect documents over years (I’ve learned this the hard way).

Scanning is always a good idea. An office scanner will do the job, though it can be time consuming depending on the amount of Deeds. Or use your iPhone and save the pics.
 

Sue Ellen

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dampness can adversely affect documents

Fire damage can be even worse as I was advised about years ago. One company who had a bad fire had their important documents in filing cabinets which were not fireproof. Everything just disintegrated on touch.
 

Mamamia22

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Do they ? Is that just on new builds ? It should be made simple. Keeping a four inch thick pile of papers safe from loss, water, fire and theft is a worry.
 
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