Ask an Property Solicitor. Get an Answer ASAP.
Hi, thanks for your question. My name isXXXXX can answer this.
Unofrtunately, any agreement for the transfer of land must be in writing or evidenced in writing and contain all relevant terms (s.2 of the Law of Property Act 1989).
So a verbal agreement has no legal effect?
No, it doesn't I'm afraid. The law is very clear on that.
OK, thanks. What are 'all relevant terms'?
What's happened is you've been :gazumped". In some other countries, this is outlawed and there has been talk of outlawing it here, but it has never made law.
By "all relevant terms" it simply means all contract terms, i.e. exchange and completion dates, price, description of property etc. etc.
OK, thanks for that. I'm disappointed, of course.