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Lost deed of trust original copy

Joined:Sun Apr 11, 2021 5:38 am
Lost deed of trust original copy

Postby Jamytaxouch » Sun Apr 11, 2021 5:56 am


I purchased a property many years ago with help from my mother for the deposit.

I got married and we decided she'd pay the rest of the mortgage and take over the property so I could go and buy a bigger place. I kept 5% of the capital (roughly the amount I had paid in so far out of my own pocket) We did this because she was looking to have a rental property anyway, this saved on fees and the such. No cgt was due due to PRR and the amount exchanged was at 0% stamp duty rate of the time.

We got a deed of trust to be set up which recorded this - this was essentially an online template which we modified with some terms. It said what percentage each we'd get when selling, but also that she's entitled to all rental income but also liable for all expenses (I've read from HMRC under PIM1030 that rent can be split arbitrarily from share ownership if not spouses) .

We had failed to setup a restriction as we didn't even know about those. Keep in mind we very stupidly did not get help from solicitors and did the whole thing DIY, we were trying to save money (yes false economy thinking back)

She's been renting the place out since I moved out.

She had kept the original and I had a copy.

She recently asked me for a copy but this turned out to be because she has lost the original! If an enquiry was made, are we completely in trouble? Would the copy be acceptable or is the original the only version which would work?

Reason she asked me for the copy is she's thinking about selling and I'm now tearing my hair out as I read originals are a lot more important than we thought (was always under the impression that a copy is just as good)

Joined:Wed Aug 06, 2008 4:06 pm
Location:West Sussex

Re: Lost deed of trust original copy

Postby pawncob » Sun Apr 11, 2021 11:01 am

You could just sign the copy, with witnesses and a note that the original was lost.
There must be a L.R. record of the transaction to back it up.
With a pinch of salt take what I say, but don't exceed your RDA

Joined:Fri May 16, 2014 3:47 pm

Re: Lost deed of trust original copy

Postby AGoodman » Mon Apr 12, 2021 2:56 pm

Copy is absolutely fine. Nobody is going to quibble.

A little (annoying) point of order. If you are not both on the registered title as legal owners, the "trust" of the property will need to be registered with HMRC under the Trust Registration Service. There is an exception where the beneficial and legal owners are the same. The deadline for first registration (these are new rules) was March 2022 but may be pushed back because HMRC have been slow in getting their software working. Bear in mind that some HMRC guidance still sets out the old rules that apply at the moment.

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