Continuing the series in which our Clinic experts provide a guide to those thorny issues that can trip up the unwary. This week, David Fleming on why we no longer need title deeds
What are title deeds?
Historically, title deeds were the pieces of paper that showed who owned a property. In the case of unregistered land, they have always consisted of conveyances and other documents showing the transfer of the property from one owner to another. Most land is registered now and the deeds used to be either a land certificate or, in the case of property with a mortgage, a charge certificate with the mortgage deed bound into it. Both contained a copy of the entries at the Land Registry showing the property (together with a plan), the name of the owner and details of mortgages and other charges. That was until October 2003, when everything changed.
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What happened then?
The Land Registration Act 2002 came into force and abolished land and charge certificates. Now all the owner receives when a property changes hands or is mortgaged is a copy of the entries held at the Land Registry. And often the only document handed over at the completion of a sale is a form of transfer signed and witnessed by the seller in favour of the buyer.
Why all these changes?
It is the first step in a grand scheme for electronic conveyancing, which will eventually mean no more paper transfers, mortgages and so on. It is unclear exactly how this will work in practice, but clearly there will have to be some form of "electronic signature" whereby the seller's solicitor confirms that the property has been transferred to the buyer. One major advantage to the new system will be a facility for all the parties in a chain of transactions to see the progress of the chain online rather than wait for their solicitors to get in touch.
So does it matter if my lawyer has lost my deeds?
No. But if you want something for your files, you can obtain a copy of the title register and title plan for £3 each (www.landregisteronline.gov.uk). And, when you buy a house, keep the copy of the register entries, which your solicitor should send you on completion, just in case disaster strikes and the Land Registry's electronic records become corrupted (I would stress that this has never yet happened to my knowledge, and I am sure the Land Registry has all the necessary back-up systems).
# David Fleming is head of property litigation at William Heath & Co
The Telegraph.co.uk
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