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Defective Title
MRSTITTLEMOUSE
Posts: 8,547 Forumite
I have just received my legal pack from my solictors,for my proposed sale and purchase.
Can anyone explain what is meant when he mentions that the costs shown are provided that the title is in good order and not defective.What is a defective title.Thanks to anyone in advance.
Can anyone explain what is meant when he mentions that the costs shown are provided that the title is in good order and not defective.What is a defective title.Thanks to anyone in advance.
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Comments
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A defective title has problems which, if not addressed, could prevent the sale and purchase from proceeding. Examples include:
# Lost or missing Title Deeds.
# Lack of legal right of way to a property.
# Restrictive covenants
# Squatters rights
My brother is buying a property which did not have a "legal right of way", the sellers have paid £10k to a company to buy the right of way. This has delayed the transaction by about a couple of months.
ZZ
"It is better to fail in originality than succeed in imitation." Herman Melville.0
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