Stuck without lost Deed of Trust?
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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Member Since January 2024 - Comments: 341
10:37 AM, 29th April 2024, About 2 years 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.
Member Since January 2016 - Comments: 235
1:20 PM, 29th April 2024, About 2 years ago
Surely you must have a mate who’s happy to witness a fresh document that, whoops, just happens to be dated 2012 ….
Member Since January 2015 - Comments: 1435 - Articles: 1
1:50 PM, 29th April 2024, About 2 years 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
Member Since April 2021 - Comments: 120
8:16 AM, 4th May 2024, About 2 years 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 [email protected] 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