Principal Deed lost

In the process of buying a reposessed property. My solicitor has stated that Land Registry hold no Principal deed for the house and have been talking about getting insurance for this. 

i am not a fan of the insurance route and would like the Principal deed located and added to the land registry profile for peace of mind. If it cannot be resolved then I will be pulling out of the sale. 

Is there a way the Principal deed can be located or a new one issued to resolve this without the need of indemnity insurance?

Katie - that all depends on what is meant by 'the Principal deed' I suspect. If they mean a key deed referred to on the register but that cannot be found, then the indemnity insurance route is likely to be the only one available if you wish to proceed with the sale/purchase

Hi Adam, believe that is the deed they're talking about. 

so can a new one not be created? Would any other party from the original purchase (in 2009) have a copy of this? Solicitors etc? I note that everything was digital via the land registry as of 1990 so cannot understand how the land registry has apparently lost this and not be held accountable or be able to issue new? 

 

Katie - you can't recreate something, that has been lost, as a new version. If the actual deed/copy cannot be located then the only option tends to be insuring against the 'risk' of not knowing what specifics it contained and how someone might seek to enforce it for example. The conveyancer would be able to explain the legal/technical meaning/purpose of the insurance as well as the 'risks' it covers