Registered interest of a previous abortive purchase?

by Readers Question

7:41 AM, 13th June 2016
About 3 years ago

Registered interest of a previous abortive purchase?

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Registered interest of a previous abortive purchase?

I am in the process of purchasing a new build apartment. My solicitor has notified me of a unilateral notice which registers an interest of a previous purchase that became abortive.abort

The vendors solicitor has confirmed this, but is unwilling to take an undertaking (a legal promise I take it) to have it removed only that they are undertaking to make an application to get it removed as they are not the land registry.

As the buyer my solicitor has recommended to only proceed if the vendor solicitor provided a proper undertaking that it will be removed (not only an application) or they wait until it is removed under the normal cancellation procedure which can take 15 working days if there is no objection from the beneficiary highlighted in the notice.

Have any other landlords proceeded with a purchase with a notice of this kind on the register?

Many thanks

Raj



Comments

Nick Pope

9:23 AM, 18th June 2016
About 3 years ago

Typical of builders/developers. I'm afraid as they wand their cake and eat it.

They are trying to sell you a property with a defective title and it's their responsibility to get it sorted out. I would guess that if you are having a mortgage your solicitor who would probably be acting on the lenders behalf as well would advise them not to make an advance until the notice (I think it's called a caution) is removed. If no mortgage is required and you went ahead anyway future sale would be difficult.Any other purchaser would have the same problem.

I suggest that you consider agreeing to exchange contracts with completion deferred until your solicitor is satisfied both on your behalf and the lender's if any that the notice has been removed allowing them a maximum time (say 3 months) to get it done or the contract is void and you lose nothing except the fees etc.. If they are confident that it can be sorted out then they have no reason to worry. If they argue the point then they are worried and perhaps you should walk away.


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