Flat Purchase with Possessory Title?Make Text Bigger
My wife and I are looking to purchase a flat where the owners, who have lived there for c.25 years have managed to lose the deeds and also never registered the deeds with Land Registry.
Since our offer was accepted in April they have been working to prove that they legally own the flat, but following their efforts the best that the Land Registry will do is give them a “Possessory’” title.
This is along the lines of “squatters rights” and although they are offering to fund indemnity insurance our lendor may well not agree to give us the funds to go ahead.
Similarly, if they do agree we could face an issue when we come to sell the flat
Has anyone had experience of similar and is there a way to “upgrade” the registered title of a property?
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