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What Does It Mean if There are No Title Deed Info Registered with LR?

Apologies for long title!

I am interested in buying a property, although feel it is overpriced but would like to put a serious but realistic offer in. Having read how to inform yourself on this website, I have tried to obtain the Title Deeds, amongst other things (boundaries etc) to see what the property was purchased for, as it needs refurbishment.

I know I should offer what it's worth to me,and I am not wanting to hold the vendor to ransom in a 'i know what you paid for it', but I am now concerned as to why it would not be registered with the Land Registry?

It's more for peace of mind. The property is marketed
at £187,500, although two others have sold in the last 4 months for £110,000 & £140,000 pretty much identicle.

Anyone have any advice? Many thanks
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Comments

  • mufi
    mufi Posts: 656
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    Many properties that haven't changed hands for years are not registered - ours wasn't, as we bought it in the 80s.
  • Hi mufi,
    many thanks, so nothing sinister then! That's good to know. The property was built in the late 70's so maybe the vendor has always been there.

    Thanks for taking the time to reply.
  • mufi
    mufi Posts: 656
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    It's a pleasure.

    However, if you've nothing better to do, read this thread started by SWMBO and be very afraid...

    http://forums.moneysavingexpert.com/showthread.php?p=37265190&highlight=#post37265190
  • Thanks again!

    I've just emailed the Estate Agent to ask if the vendor holds the title deeds, or if not what happens!

    Very interesting, I'm glad I asked now, especially as it has and extension which is very close to next door!

    Thanks for your time
  • I've just emailed the Estate Agent to ask if the vendor holds the title deeds, or if not what happens!

    Not the sort of question an EA is likely to know the answer to.

    Do you have any idea whether the seller has a mortgage at the moment and how long he has owned the property?

    Which local authority area is it in? Compulsory registration of title came in in stages between 1900 and 1990, most of it outside London being between 1970 and 1990. If the house had not changed hands since before it became compulsory area there won't be registered title. This is very common situation outside London.
    RICHARD WEBSTER

    As a retired conveyancing solicitor I believe the information given in the post to be useful assuming any properties concerned are in England/Wales but I accept no liability for it.
  • bigc2910
    bigc2910 Posts: 139 Forumite
    Hi Richard

    Many thanks for your input. The EA has spoken with the vendor who has informed him that she has the deeds in her possesion, and has lived in the property since 1996? As you point out,he has missed the fact that its the actual registration of land not the actual deeds that was the root of my enquiry.

    Having held the deeds to my previous property, I understand that it is common practice now, since banks ceased to store them.

    It was my understanding that all property should be registered, we are in the North West,Manchester area would this cause issues with the purchase?

    Would it fall to the vendor or us as buyers to register? If so, is that expensive?

    Not sure if a mortgage is held, the marriage has broken down and the property is empty as she has moved into her new partners house and wants a quick sale.

    Sorry for all the questions, its just that I am interested in this and another property of which we have to make a decision on in the next few days.

    Thanks in anticipation of your reply and advice,
  • G_M
    G_M Posts: 51,977
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    edited 12 February 2011 at 8:02PM
    Registration is now compulsory in all areas when a sale takes place, so yes, if it is unregistered at present, you (or your solicitor) will have to register it in your name if you buy.

    If the current owner has only been there since 1996 I'm surprised it's not registered. See here for dates of compulsory registration.

    Unregistered property is slightly (possibly considerably!) more complex to deal with than registered land, so conveyancing fees are likely to be higher (25% more???)
  • mufi
    mufi Posts: 656
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    bigc2910 wrote: »
    Would it fall to the vendor or us as buyers to register? If so, is that expensive?

    It falls to the vendor, or certainly did in our case.

    Before our case got complex, all our solicitor was going to charge was the charge levied by the Land Registry for registration. Even with the complications, the charges were only an additional £150 in total.
  • G_M
    G_M Posts: 51,977
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    Where land is registered, it is the buyer who updates registration with their name.

    Where land is unregistered, it is the buyer who applies for First Registration.

    (let's face it, once the vendor has their money why should they care, or have any incentive to do anything about registration!)
  • mufi
    mufi Posts: 656
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    G_M wrote: »
    Where land is registered, it is the buyer who updates registration with their name.

    Apologies if my post was unclear, but the thread is about unregistered land, and my reply was relevant to that - in our case it was the vendor's responsibility. Perhaps that's because we had a problem with the boundary.
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