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Help with Probate situation please
lady123_2
Posts: 141 Forumite
im waiting to exchange on a house, but have been advised not to by my solicitors reason being that the house only has deeds and hasn't been registered with land registry, the house was in probate, the excecutors of the will are one of 6 benefactors.
the house was in trust so the 2 executors will not register it on advice from there solicitor or accountant as they would be responsible for capital gains tax, so they say, they have all documents stating that the house is theres, but my solicitor is saying its a messy registry and would like them to register first incase of any challenges after i register it for the first time, obviously catch 22 for me as im in limbo, i ve asked the exceutors if my solicitor draws up a leagle document to cover me will they sign it, they say yes they'll sign anything, what do i do and does such a document exist, on top of this due to the delay i'm scarred of loseing my buyer, theres no further chain apart from me in the middle, could anyone offer me some advice as its the first time ive done this and its stressing me out no end, i ready to give up
the house was in trust so the 2 executors will not register it on advice from there solicitor or accountant as they would be responsible for capital gains tax, so they say, they have all documents stating that the house is theres, but my solicitor is saying its a messy registry and would like them to register first incase of any challenges after i register it for the first time, obviously catch 22 for me as im in limbo, i ve asked the exceutors if my solicitor draws up a leagle document to cover me will they sign it, they say yes they'll sign anything, what do i do and does such a document exist, on top of this due to the delay i'm scarred of loseing my buyer, theres no further chain apart from me in the middle, could anyone offer me some advice as its the first time ive done this and its stressing me out no end, i ready to give up
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Comments
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is there not some indemnity insurance you could take out to cover you if you register it with land registry and there are problems later.
I have heard of people taking out indemnity insurance for extensions that don't have permission etc.I'm a Forum Ambassador on the housing, mortgages & 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.0 -
thx for your reply, that's the type of thing i was talking about but can't speak to my solicitor until midweek as he's away, just trying to get some options from the good people of this forum0
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Hope this is helpful - the property we are selling has no lease, just has deeds (lease has been lost and no records at Land registry) I have taken out an indemity insurance for our buyers (£175) and made a standard declaration and the sale is proceeding no trouble - just £175 less in the bank!0
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abi113 wrote:Hope this is helpful - the property we are selling has no lease, just has deeds (lease has been lost and no records at Land registry) I have taken out an indemity insurance for our buyers (£175) and made a standard declaration and the sale is proceeding no trouble - just £175 less in the bank!
thanks abi113, ill ask my solicitor about that midweek when he's back, due know where i or our sellers purchase a policy such as this? would be helpfull to know what company's offer this type of policy0
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