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propertylawyer
propertylawyer, Solicitor
Category: Property Law
Satisfied Customers: 285
Experience:  Property solicitor with expertise in commercial and residential property transactions.
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I'm buying a house which family have lost deeds now

Resolved Question:

Hi I'm buying a house which family have lost deeds now registered in March as possessory title. Is this common ?
Submitted: 1 year ago.
Category: Property Law
Expert:  propertylawyer replied 1 year ago.

It is not very common.

There are different classes of title. Absolute being the best class and most common.

Do you have a solicitor acting for you? Have they advised you on this?

Are you being with a mortgage? The lender may have an issue with the class of title.

Customer: replied 1 year ago.
It's a cash buy it's half a million I'm vary nervous to proceed as I've looked on the deeds last night and it's states something with restrictions of convent to land I want to extend into the property as I will only have limited rights in not sure I can do this
Customer: replied 1 year ago.
Also I will have to stay for 12 years before I can upgrade the title. Also issue with landlock at bottom of land I'm waiting for them to sort out
Taking all of these issues into account would I be reasonable to renegotiate the agreed price
Customer: replied 1 year ago.
Hello are you there?
Expert:  propertylawyer replied 1 year ago.

You can certainly try to renegotiate the price based on the fact the seller cannot give absolute title.

You can get indemnity insurance to cover the risk. The seller should cover the premium.

Customer: replied 1 year ago.
What would be an appropriate reduction to reflex the possessory title I've already dropped them from 550 as the house is in such poor condition. Thinking back now they did rip my hand off as its been in the market two years
Expert:  propertylawyer replied 1 year ago.

Sadly solicitors are not qualified to advise on matters of valuation. It is outside a solicitor's areas of expertise. You would need a surveyor to advise on whether possessory title affects value.

A buyer is always free to attempt a renegotiation on price. The fact the property has been on the market is also an indication that the seller is in a weaker position. Potentially you could secure a better(lower) price.

Do consider indemnity insurance too if you proceed.

Customer: replied 1 year ago.
Thankyou I will get the insurance if this house ever goes through.
There's one issue I'm worried about. On the deeds which I viewed on land registry It's startes something under the heading restriction and the area may be subject to convent
Expert:  propertylawyer replied 1 year ago.

Do you have a solicitor?

Have they advised on title?

I can review title and comment for an additional service. If agreeable i will send you an offer via this site, you accept the offer and attach the title to a message via the paperclip icon.

Customer: replied 1 year ago.
No thanks that's ok. I do have a solicitor she has told me she can't comment until contracts have been given to her as we have waited weeks for this to happen.
The vendor has cut off the bottom of the garden which totals one arce and sold this off with planning permission it has access but not legally they have used this gate for years. They are in the process of registering this and making access legal. This has really slowed things down I have only just found out about this everyone kept this info from me and my husband it has resulted in me cancelling the survey set for Monday as they promised contacts Friday gone
Expert:  propertylawyer replied 1 year ago.

I cannot see why your solicitor cannot comment on title. It has nothing to do with the contract. If there are issues you can bail out earlier rather than later.

The offer is there if you want advice.

Please can I kindly request that you accept /positive rate my assistance otherwise the website will not pay me for assisting you today. Many thanks.

Customer: replied 1 year ago.
Thankyou one last question. I have a strip of land in front of he house I have found out who owns it as i would like to push my boundary out. Does the solicitor approach the people that own it or me?
Expert:  propertylawyer replied 1 year ago.

Either. It does not have to be a solicitor. If you are happy doing it you can.

propertylawyer and other Property Law Specialists are ready to help you
Customer: replied 1 year ago.
Thankyou
Customer: replied 1 year ago.
How do I rate you ?
Expert:  propertylawyer replied 1 year ago.

I think via the website or via a message which I have sent.

Thanks.