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A comment on A million-dollar brownstone that no one owned. Parent comment

Re:A million-dollar brownstone that no one owned by dingaling on Tuesday August 21, 2018 @10:26AM (#17809876)
In the UK the banks and property agencies are moving away from title deeds in a process called 'dematerialisation'

My deeds, dating back to 1949, no longer exist. They were shredded by Nationwide. I have a certified copy but they are considered of academic interest and 'proof of ownership' is now recorded by a database row. Which is terrifying, as a simple clerical error or a system failure could ruin so many lives.

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Re:A million-dollar brownstone that no one owned by liveoneggs on Tuesday August 21, 2018 @02:02PM (#17812118)
in the US banks managed to steal houses by just making claim on them because they have overwhelming authority.
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Re:A million-dollar brownstone that no one owned by bena on Tuesday August 21, 2018 @10:54AM (#17810113)
I mean, before a simple fire could have ruined those same lives. Also, paper isn't proof against clerical errors.
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Re:A million-dollar brownstone that no one owned by chii on Tuesday August 21, 2018 @09:21PM (#17815435)
Paper, if recognised legally means you have the responsibility to hold and present it as proof. You could keep the paper in a safety deposit. You can make certified copies.

If proof is electronic, you have no recourse if computer error causes a dispute, since you do not hold any proof yourself to present as evidence!

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