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Obligation to Deposit Title Deeds (Read 4119 times)
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Obligation to Deposit Title Deeds
Jan 14th, 2007 at 8:09pm
 
Apologies if my question sounds strange as I have very little knowledge of Scottish Law.

I'm a lawyer practising in England and have been approached by a client who recently bought a property in Scotland. 9 months after completing he needed to sell the property but realised it had not yet been registered. The deal fell through and he was left out of pocket.

I've already advised him he needs to see a Scottish lawyer as I cannot answer his query but just for my own curiosity is there any obligation or statutory authority that limits the amount of time to register a property at the Land Registry?

He also took out a mortgage over the property, in England the majority of lenders have a clause to deposit deeds within 3 months as part of their retainer, is there any similar situation in Scotland?

Thanks in advance for any help.
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Re: Obligation to Deposit Title Deeds
Reply #1 - Jan 16th, 2007 at 7:41pm
 
The short answer is probably that there is no such obligation. Deposting deeds has no significance in Scotland. Registering the deeds is the important thing, and there is a duty to get this done asap.
Having said that, lots of properties in Scotland are still being put on to the Land Register for the first time. First registrations can take anything from 6 months to 6 years! Second and subsequent registrations are usually done in a couple of months.
New estates (usually involving splitting up one or more titles into perhaps hundreds of deeds) can also take forever. In practice, if your client wants to sell their house during the registration process, you use a set of copy deeds with evidence that your client's application is somewhere in the system.
So I don't understand why this deal fell through.

Hope this is of some help.
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