Flat Purchase with Possessory Title?
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?
Many thanks
John
Comments
Have Your Say
Every day, landlords who want to influence policy and share real-world experience add their voice here. Your perspective helps keep the debate balanced.
Not a member yet? Join In Seconds
Login with
Previous Article
Protecting someone else's deposit?Next Article
5 Killer Questions to Choose a Letting Agent
Member Since February 2014 - Comments: 5
7:27 AM, 7th August 2014, About 12 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
Member Since January 2011 - Comments: 12217 - Articles: 1412
7:40 AM, 7th August 2014, About 12 years ago
Reply to the comment left by “John Tattersall” at “07/08/2014 – 07:27“:
Great result John 🙂
Now about that donation ……..
.
Member Since February 2014 - Comments: 5
8:12 AM, 7th August 2014, About 12 years ago
well reminded Mark – coming up !
Member Since January 2011 - Comments: 12217 - Articles: 1412
8:40 AM, 7th August 2014, About 12 years ago
Reply to the comment left by “John Tattersall” at “07/08/2014 – 08:12“:
Received with thanks 🙂
.