Missing deed indemnity policy?

laurenf_2

I have recently purchased a house and the conveyancing is currently going through my solicitor. I was told there was a missing deed and that I would require a missing deed indemnity policy. As far as I know, the missing deed is a part of land that is behind the house, outside the garden and can be used for parking.

The sellers are not willing to cover the cost of this policy and their solicitors have asked me to cover this cost. I am waiting for a quote from my solicitor. Does anyone know the cost of these policies, considering the price of the house I've purchased is below £150K? I really have no idea what this will cost me.
Also, is the cost really my responsibility?

I will ring my solicitor tomorrow to discuss this, but any info at the moment would be really helpful

Thank you.

jessbob

Depends which policy the solicitors advise you to have. You need to ask your solicitor whether the deeds to the particular area of land are missing, in which case you will require possessory title insurance, or whether there are just missing particulars relating to the land.

You should discuss with your solicitor at length, as really the seller should cover the cost of such insurance as they are unable to sell the property with a good title.

Hippychick

The sellers may have also obtained a policy when they purchased the property, it is worth checking to see if they have and whether or not the policy could be assigned to you.
The sellers should pay for it though.

laurenf_2

Thanks for the replies. I think they're being a bit cheeky asking me to pay! But I will speak to my solicitor tomorrow for all the details. I might propose to split the cost of the indemnity policy, because to be honest, I've got this far and I have spent quite a bit on solicitor fees so the last thing I want to do is lose the sale.

Too much legal malarky these days! hehe