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Sellers Got a Unilateral Notice on Property!

I cannot believe it!

Was hoping to complete before Christmas, after this house purchase has been on or off 2 or 3 times due to various reasons over the past 3 months.

First the price valuation, then with the survey which put a retention on the mortgage unless it was fixed, now this!

Thought, finally should be moving in soon, got everything in place on my side, ready to pay the deposit to Solicitor, just one search remaining.

Then..

Got a phone call this morning from solicitor saying there's good news and bads new!

Good News is the Search has come back, the bad, which is worse, is they have a unilateral notice on the property which has been applied in the last month.:confused:

What can this mean to my house purchase?
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Comments

  • Found this link - see a few paragraphs down

    http://www.anthonygold.co.uk/page.cfm/link=199
  • Thanks Evee,

    Is there anywhere i can find who has issued the notice and what amounts its for?

    Would it appear on the Title deeds if I did a search on the land registry online?

    The other thing I was worried about is if this hadn't been identified by my solicitor would the debt or order be transferred to the new owner, in this case me?
  • silvercar
    silvercar Posts: 46,945 Ambassador
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    The other thing I was worried about is if this hadn't been identified by my solicitor would the debt or order be transferred to the new owner, in this case me?

    Don't worry it would be identified, as it was in this case.

    That is why solicitor handle house purchases.

    I would guess its a delay rather than a deal stopper. Your solicitor should be able to advise further.

    We had a similar problem and it delayed exchange by a couple of days and didn't affect completion.

    I would guess (only guessing) that someone is owed money by the seller and has heard that the house is being sold, so he is slapping this notice on the property to make sure he gets his money. If this is the case then, providing there is sufficient equity in the property, it should all go smoothly.
    I'm a Forum Ambassador on The Coronavirus Boards as well as the housing, mortgages and student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.
  • To add to Silvercar's comments
    Thanks Evee,

    Is there anywhere i can find who has issued the notice and what amounts its for?

    Would it appear on the Title deeds if I did a search on the land registry online?

    Probably - it's almost certainly how your solicitor found it as one of the first searches they do is the Land Registry
    The other thing I was worried about is if this hadn't been identified by my solicitor would the debt or order be transferred to the new owner, in this case me?

    No - debts cannot be transferred from one person to another, otherwise I'd transfer mine to you :D

    I don't think that this Notice is necessarily a debt. It registers an interest in the property. This could happen if a man (just for example!!!) owns the title to the property and his wife is not named as joint owner. They decide to separate or even divorce. Wife would register that she had an interest in the property i.e. that she was a joint owner of at least a share of it. This might prevent man from selling the property without some formal, legal arrangement to document her share and give her part of the proceeds.

    On the face of it, a Notice is not anything to be concerned about as it's something that your solicitor will deal with. The problems occur when the interested party does not agree to the sale. In my example, because wife & children want to remain the property. But this is only speculation - you need to let your solicitor establish what the position is.

    My only concern is whether the Official Receiver would register an interest in a property, in this way, where the owner was bankrupt .... or whether the OR uses another process :confused:

    Let your solicitor advise you.
    Warning ..... I'm a peri-menopausal axe-wielding maniac ;)
  • Millionaire
    Millionaire Posts: 3,748 Forumite
    Combo Breaker First Post
    Thanks Silvercar,

    Its good to here that your overcame it when it came to your purchase.

    Fingers crossed that its something minor over here and it does not effect completion. Just hope its sorted out quickly.

    Doesn't help that I'm currently renting and the landlords given notice when I would not sign a new contract.
  • Millionaire
    Millionaire Posts: 3,748 Forumite
    Combo Breaker First Post



    No - debts cannot be transferred from one person to another, otherwise I'd transfer mine to you :D

    Phew! I couldn't handle that much debt:rotfl::D

    I was just thinking along the lines of Car HP etc. Come to think of it i know nothing about Car HP.
    :rolleyes:

    Let your solicitor advise you.

    Yep, gonna give him a ring and try to squeeze more info out of him.

    The most annoying thing about the whole thing is i wanted to start the new year in my newly decorated new home:( and be done with renting.
  • silvercar
    silvercar Posts: 46,945 Ambassador
    Academoney Grad Name Dropper Photogenic First Anniversary
    My only concern is whether the Official Receiver would register an interest in a property, in this way, where the owner was bankrupt .... or whether the OR uses another process

    The OR would register his beneficial interest in the property in this way. Provided that the buyer is not related to the seller and is buying the property at market value (rather than a sell-me-quick discounted price), the OR should let the sale proceed. Sorting the paperwork on this would take a few days but the OR, acting in the creditors interest, should be delighted that the sale will happen speedily and at market value.
    I'm a Forum Ambassador on The Coronavirus Boards as well as the housing, mortgages and student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.
  • Millionaire
    Millionaire Posts: 3,748 Forumite
    Combo Breaker First Post
    Just to update.

    Rang the Vendor (private seller). Told them about being the solicitor advising me that there is a notice on the title deeds.

    Advised me they just found out recently as well?:confused: Apparently its something from a while back and they are trying to get it sorted out

    Vendor was abit cagey on more details on what actually is the problem and who it is or how much, which i suppose its up to them.

    It would be nice to know exactly were i stand but they told me they can't tell me exactly how long its gonna take to sort out:(

    So i took it upon myself to dig a bit deeper and its seems its a notice placed on the 16th October 2007 for a company called First Credit? anyone any ideas?
  • silvercar
    silvercar Posts: 46,945 Ambassador
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    Hmm, something from a while back thats only just emerged onto the deeds.

    I'm standing by my original guess:
    I would guess (only guessing) that someone is owed money by the seller and has heard that the house is being sold, so he is slapping this notice on the property to make sure he gets his money.
    It would be nice to know exactly were i stand but they told me they can't tell me exactly how long its gonna take to sort out

    So they are going to offer something to make this go away - maybe some negotiation required.
    I'm a Forum Ambassador on The Coronavirus Boards as well as the housing, mortgages and student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.
  • Millionaire
    Millionaire Posts: 3,748 Forumite
    Combo Breaker First Post
    silvercar wrote: »
    Hmm, something from a while back thats only just emerged onto the deeds.

    I'm standing by my original guess:

    Yes, i think you may be right
    silvercar wrote: »
    So they are going to offer something to make this go away - maybe some negotiation required.

    You know what, for some reason that didn't cross my mind on this occasion.:beer:

    I've already got them to drop the price £13,000 from original price agreed, which in total is £16,000 under what they originally wanted due to a valuation report and also made them do around £1500 repairs to the house structurally.

    Don't know if i could knock it down further. But if they don't get this sorted soon i might have to reconsider my position.
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