Possessionary Title

yakface77 · 17 November 2009 at 9:24AM

Good Luck Macdormer,
If your solicitor is negative, speak to a specialist in conveyancing over the phone to get his opinion too. As i said earlier, its a minor technicality until the 12 years have passed, then a full title will be granted.
Try to get the estate agent to rub it in a bit with the vendors about how off putting 'poccessory title is, when parting with £170k of hard earned cash, then they should be geared enough in your interest to understand your offer. :-)

timmyt · 20 November 2009 at 11:42PM

Lost deeds usually result in title absolute, but with a title entry saying restrictive covenants are not stated, so you would need insurance.

If possessory title, then usually that means the land has been claimed through more than 12 years advserse use.

Either way, insurance protects.

Use a solitor to handle your sale, or if buying such a title, definately ensure you have a solicitor handling it, not a bicket shop internet company....who will probably not know what to do anyway

jimthevan · 17 December 2009 at 12:47PM

how have you got on? we are looking at a property with the same issues and have the same concerns

Macdormer · 7 January 2010 at 11:12PM

Still proceeding. My lower offer refused but I am now desperate.
The only real issue is general publics knowledge about possessory title will affect any resale.

A solicitor will say there is little to worry about but they will not give 100% assurance of course!

I would say if you are not going to move for 12 years and you love the place go for it but get a bargain as the others said... I did not get the bargain because due to being mislead I am now in dire straights without a home.

There are not many decent properties on the market therefore in my opinion this affects negotiating power.