Stuck without lost Deed of Trust?

Stuck without lost Deed of Trust?

0:00 AM, 29th April 2024, About 6 months ago 4

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Hi, I bought a property in 2012. Soon after, I made a Deed of Trust to allow the limited company which I wholly own and manage, to receive rent payments and pay the mortgage.

I am thinking of selling the property. However, upon checking the documents, I found out that I do not have a copy of the Deed, which is a private arrangement between me and my company.

The solicitor’s firm which drew the deed no longer exists and my current solicitor says I cannot sell the property without it.

If I am stuck, how can I sell the property to pay off the mortgage which is due to be repaid in a few years?

Any ideas on what I can do to remedy the situation?

Many Thanks.

Baz


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Ryan Stevens

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10:37 AM, 29th April 2024, About 6 months ago

Speak to a more helpful solicitor to see if there are options to draw up something now to confirm the intention of the parties.

I'm not a solicitor, but my understanding is that if the facts represent what was set out in the deed of trust then a court may well follow the facts and intentions of the parties, despite the fact that the deed is missing.

Grumpy Doug

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13:20 PM, 29th April 2024, About 6 months ago

Surely you must have a mate who's happy to witness a fresh document that, whoops, just happens to be dated 2012 ....

Judith Wordsworth

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13:50 PM, 29th April 2024, About 6 months ago

Check a copy of the Deed of Trust wasn't registered at HM Land Registry under the property's Title Number.

Often a good thing to do, and if memory serves me correctly costs £0 to do

Laura Delow

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8:16 AM, 4th May 2024, About 6 months ago

When a solicitor firm closes down, the Solicitors Regulation Authority (SRA) arranges for all documents to be held safely by another firm called an Intervention Agent. See link: -
https://www.sra.org.uk/consumers/problems/claim-papers/
You need to complete the downloadable Intervention Archive Document Request Form & send it to the SRA iaf@sra.org.uk listing the name of your solicitor firm who drew up the Deed of Trust (and any firm that might have taken them over before ultimate closure) & the document(s) you are seeking. The SRA states that trusts must be kept for 21years from the date the trust was drawn up/concluded or from the last correspondence on file if later.
The SRA aims to deal with all requests within 8weeks.
Fingers crossed the SRA locate your original Deed of Trust.
Good luck

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