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  • FIRST POST
    • lwoodman
    • By lwoodman 11th Oct 16, 12:22 PM
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    lwoodman
    Building house across 2 title deeds and need mortgage
    • #1
    • 11th Oct 16, 12:22 PM
    Building house across 2 title deeds and need mortgage 11th Oct 16 at 12:22 PM
    Hello,

    We are building a new property across 2 title deeds. When we acquired the old house on the land a portion of land right next to the original house we could not find the title deed for so we registered it with the land registry at the time. On one of the title deeds (for which we could not find the original title deed) it stipulates that:

    "The land is subject to such restrictive covenants as may have been imposed thereon before 1 October 2002 and are still subsisting and capable of being enforced."

    I believe this is standard practice for newly registered land (Part 3 of the "Practice guide 2: first registration of title if deeds are lost or destroyed") and we took indemnity cover out in case.

    The two title deeds seem to be inextricably linked because one references the other i.e. (01.10.2002) The Freehold land shown edged with red on the plan of the above Title filed at the Registry and being land adjoining 1 My Road, My Town, MyCity.

    1. Is a mortgage company going to have an issue with this?
    2. Are there any issues in building across 2 title deeds like this?

    We have indemnity insurance in place when we first acquired the land but will need to "top it up" to cover the cost of the new property value.

    Thanks

    Al

    Excerpt from the Land Registry "The entry will state that the land is subject to such restrictive covenants as may have been imposed thereon before the date of first registration, so far as such covenants are subsisting and are capable of being enforced.

    We will make this entry because the person entitled to the benefit of the covenants may still be able to enforce them. If this occurred or the register was rectified at a later date to include the covenants, the registered proprietor would prima facie have a claim for indemnity. On the other hand, the person entitled to the benefit of the covenants may have a claim for indemnity if we refuse to rectify the register."
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