The deed of a property refers to the legal paperwork that proves ownership. It also contains essential information such as boundaries and other relevant factors about the property and land. It acts in a similar way to a motor vehicle logbook, in that the details are updated every time a property is sold and bought by another person.
Land Registry Records
Most properties are already registered with HM Land Registry. This means that the original paper deeds have been sent to them, and they now hold scanned copies of the deeds on file. The originals are then sent back to the owner or solicitor.
Original, paper deeds, may not be available for properties that have been bought and sold many times as, according to GOV.UK, there is no legal requirement for the original owners to hand over this paperwork. However, once a property is registered, all of the information from the original deeds will be electronically held.
Storing Deeds
Because property deeds are stored electronically by HM Land Registry, it is not common for homeowners to possess the original deeds. However, if you do it is worth keeping them in a safe place such as a safe, or entrusting them to the care of a bank or solicitor.
A copy of your property deeds can be obtained from HM Land Registry and are best stored in a safe place in your home. This includes deeds that contain physical information about the property as well a Deed of Assignment, if one has been taken out, to show beneficial interest between parties. You can find out more about Deeds of Assignment at https://www.parachutelaw.co.uk/deed-of-assignment.
Should you lose the deeds to your property, it is not usually a cause for concern as they are already held by HM Land Registry. If you want to replace them, you simply need to order a copy. The only issue that may arise is if your property is not registered. If this is the case, then it is essential that you keep your original deeds safe, or you may have to find other ways to prove ownership.
It is always a good idea to keep a copy of your deeds at home, so that you have access to all relevant information should you need it. Whether you keep them electronically or as a physical file, always keep them in a safe place to prevent losing them.