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Remus2004
Remus2004, Barrister
Category: Property Law
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Experience:  Over 5 years in practice.
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I am research buying a property which was unsold in

Customer Question

Hi,
I am research buying a property which was unsold in an auction.
In the special conditions it says "The property is sold with no title guarantee.
The reply from the seller's solicitor below was not helpful.
Dear Sirs
I cannot advise you as I can only act for the seller in this transaction.
The provision was inserted as our client bought the properties as part of large portfolio purchase of 67 properties from receivers.
I attach a copy of the title showing our client as the owners of both properties.
Kind regards
I am thinking of buying the property for about £60000. There is a lease on the property which expires in 2017
Would indemnity insurance cover any risk?
I would also appreciate information about what the implications of "no title guarantee" are.
Bhasker Bhadresha
***********
Submitted: 1 year ago.
Category: Property Law
Expert:  Alex J. replied 1 year ago.
Hi, Thank you the normal position is under the Law of Property (Miscellaneous Provisions) Act 19994 S.12 there is an implied term that all properties are sold with full title guarantee. This means that if anyone (for example a disgruntled relative or creditor) comes and makes a claim on the title of the property you will have recourse against the seller on the basis that they were selling you a property which they were entitled to sell.To minimise the risk associated with not having a full title guarantee you can consider the following:(i) As you have noted obtain an indemnity insurance policy (should not be expensive);(ii) Ask your own solicitor to investigate the title for you;(iii) Find out if the property has been registered at the Land Registry.(iv) Find out if the seller is a liquidator or trustee in bankruptcy - in which case this type of exclusion is normal.I would bare in mind 12 years after you buy the property if no one has raised an issue it is unlikely to then ever be an issue.

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