Flat Purchase with Possessory Title?

Flat Purchase with Possessory Title?

16:11 PM, 6th August 2014, About 10 years ago 14

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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. Flat Purchase with Possessary Title

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?

Many thanks

John


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Comments

John Tattersall

7:27 AM, 7th August 2014, About 10 years ago

hi Mandy

many thanks for the link - our Mortgage providers have indicated that they will be ok with an Indemnity. We were keen to find out the process to chane the Title and your link will help with that.

The power of 118 !

regards, John

Mark Alexander - Founder of Property118

7:40 AM, 7th August 2014, About 10 years ago

Reply to the comment left by "John Tattersall" at "07/08/2014 - 07:27":

Great result John 🙂

Now about that donation ........
.

John Tattersall

8:12 AM, 7th August 2014, About 10 years ago

well reminded Mark - coming up !

Mark Alexander - Founder of Property118

8:40 AM, 7th August 2014, About 10 years ago

Reply to the comment left by "John Tattersall" at "07/08/2014 - 08:12":

Received with thanks 🙂
.

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