2006-10-04 00:53:47 · 8 answers · asked by Dominic C 1 in Business & Finance ➔ Renting & Real Estate
I think the occupier does these days. They used to be kept by the mortgage lender, but I'm fairly sure that they are now trying to move that to the occupier so that building societies etc aren't responsible.
Edit: perhaps it depends on the lender then as I was given my deeds when i bought my house (with a mortgage) 2 years ago and told to keep them safe as that was the main copy - I remember this as the house was built in 1860 and there was loads of interesting stuff about who had lived there before.
2006-10-04 00:57:50 · answer #1 · answered by cheeselweasel 2 · 0⤊ 0⤋
Once a mortgage deed is recorded in the public records it is no more than an historical artifact. The only important document is the promissory note. That will be held by the lender until it is paid. Normally they hold the mortgage deed along with it, & return it with the note because borrowers like to keep the fancy document with all the stamps on it as a symbol.
2006-10-04 03:17:02 · answer #2 · answered by Anonymous · 0⤊ 0⤋
The mortgagee - ie the financial institution that lends the money to buy the house will have the deeds until the last payment is made. If there is no mortgage, then the legal owner of the house has the deeds in theory but the actual physical copy of the deeds are likely to be lodged at the bank or with a solicitor.
2006-10-04 00:58:17 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Until the mortgage is paid off, the deeds and the property belong to the mortgage provider. Even though the property is in an individuals name it belongs to the company proving the mortgage.
2006-10-04 01:07:19 · answer #4 · answered by k 7 · 0⤊ 0⤋
It depends if it is an Equitable Mortgage or a Legal Mortgage.
If it's Equitable, then the lender will hold the equitable rights in the mortgage. If it is Legal the lender will hold all legal & equitable rights. In this case the mortga deeds.
Generally it is the former. The lender can technically redeem the mortage at any time after the date of redemption ha passed. But due to contractual terms this normally doesn't happen.
2006-10-04 00:57:51 · answer #5 · answered by mysterious_gal1984 3 · 0⤊ 0⤋
Ok you need to explain the deeds of someones house or what if it is they are either held by the person Banks and Building Societys or their Solicitor But they hold them unless you get them on Accountable Receipt
2006-10-04 01:02:35 · answer #6 · answered by Blonde_o2 3 · 0⤊ 0⤋
properly if a foreclosures is instituted it's going to be instituted hostile to the debtor and not in any respect initially hostile to you. in spite of the indisputable fact that as issues progression and or regress the lender will locate out that their mortgage (proper to proceed hostile to the borrower and take resources away) has no result till they litigate your resources pastimes pursuant to the deed your call is below, in different words they ought to prevail in eliminating your pastime from the resources so as that their mortgage is a paramount pastime contained in the resources. The foreclosures as to credit subject matters is carried out depending on the promissory note the guy signed and their credit is hit no longer yours, in spite of the indisputable fact that your pocket e book will be hit on your attempt to safeguard your pastime from being taken away by skill of the court and in case you do not pay those expenses, then your credit will be hit. best of success and get a legal specialist.
2016-11-26 02:08:05 · answer #7 · answered by kirtiman 3 · 0⤊ 0⤋
your mortgage company until you have purchased in full!
2006-10-04 01:04:57 · answer #8 · answered by AZRAEL è 5 · 0⤊ 0⤋