Bank Robbers or Land Robbers?

ameagogreg

hi thanks for your intrest,please ask me any question your wish

pinkshoes

So to try and summarise the situation:

1) You and a friend bought a piece of land in Melton Mob with good house building potential (but no planning permission applied for), which was financed with a loan secured from his business bank account.

2) A builder then bought 60% of this land for £28k a short time later. Money paid to Lloyds Bank, and witnessed by a Lloyds official.

3) You paid off loan, and you and your mate got £11k each profit, of which your £11k was paid into your personal Lloyds account (held at same branch.)

4) Council wanted whole area developed for planning permission to be granted, so builder would pay money to people owning rest of land IF permission granted.

5) you bought another piece of land in 1990 in Leicester, taking out a loan (with your mate) for £22k. You sold all plots to investors, and paid off loan in 18 months.

6) Feb 1995, 40% of remaining Melton Mob land was to be put into your name, and your mate signed the document. Bank then stopped this transaction due to your mate having financial difficulties at this point. You left it up to your mate to sort it out with Lloyds so transaction could be completed.

7) In 2004, you discover that the land had been registered to someone else since 1996.


If the land was jointly owned by you and your mate, then if he was in debt (due to illness/not working??), then perhaps his assets (the land) were sold off to pay off his debts, hence the land was sold to someone else. Would they require your signature to do this?

Ok, I'm too confused again! Something does sound odd though.

Tozer

Presumably the original transfer of the land was registered? How could it be transferred to a third party without your consent?

ameagogreg

hi. the land was divided into two areas ,the builder purchased one .my partner and and i had agreed the remaining area would be divided into two plots one each.when the builder purchased his area the remaining was still registered in my partners name thou i tried at a later date to register it to me lloyds would not let it happen .the bank was fully aware off are intention from the start but took advantage off the situation. if their was any problem why did they allow the money to be transferred to me.

Brooker_Dave

ameagogreg wrote: »

the remaining was still registered in my partners name

His (or her) land and it got taken by bank to pay off debts?

You can now sleep soundly MSE forums has solved the mystery for you.

ameagogreg

your not reading it correctly

Tozer

Presumably he was holding it on an equitable or legal trust for you. Isn't your claim against your partner?

pinkshoes

ameagogreg wrote: »

hi. the land was divided into two areas ,the builder purchased one .my partner and and i had agreed the remaining area would be divided into two plots one each.when the builder purchased his area the remaining was still registered in my partners name thou i tried at a later date to register it to me lloyds would not let it happen .the bank was fully aware off are intention from the start but took advantage off the situation. if their was any problem why did they allow the money to be transferred to me.

This claim should be with your partner then, and NOT with Lloyds. If the land was only ever in his name, it was HIS responsiblity to make sure that half of it was then registered in your name.

He obviously didn't do this, and Lloyds are (rightfully) then sold the land to pay off your partner's debts.

To recover what you are owed, you should be persuing your parter for the money, and NOT Lloyds.

Blacksheep1979

I think there may be a touch more to this story than the op is telling - land owned by someone doesn't magically get registered to someone else - unless it's been sold to them or transfered by the courts as payment for something.

ameagogreg

hi, my partner wonted the land to be registered in two equal parts ,are solicitor had prepaid the documents but the bank would not let it happen. you will see as i enter more details on this site that with out my knowledge they appointed a so called professional agent to sell the land for £1,500 when planing permission was eminent .we proved that we were correct has it was granted, the value now being well over £20,000 my partners finacial problems with Lloyds would have eased and i would still have had the land. Lloyds did not give me the oportunity to discus this with them.