'Limited Title Guarantee' - Jitters before signing contract

rosenelson

Hello Friends,
I've just recieved the draft contract and it says house is sold on 'limited title' as the house owner has died. The sellers(their son) has got a probate to sell it.
But limited title means "
Seller gives to a buyer where the seller has limited knowledge of the property that they are selling and therefore cannot give an unqualified guarantee (full title guarantee) that the property is not subject to any financial charges and that no others have any rights over the property."
Property not being subject to any financial charges are taken care by seller settling all bills and other things before completion.
But what about 'no other having any rights over the property'?
Who will guarantee this? Or how do i find this that no one else has the rights. Should my solictor do this as part of conveyancing?
I'm worried about me buying this and one fine day someone knocking on my door saying that they have the right to the property
please help!!
R Nelson

poppysarah

Wait til probate is done and the title is properly ready?

What does your solicitor say?

rosenelson

Thanks for the reply.
Solicitor is saying that the probate solicitor of the seller would not issue a probate if there is any debt on the property. But has not answered about any others having rights over the property. chasing them once again.
When you said wait till probate is done. Does it mean that this takes care of any debt of property.
What do you mean by title is properly done please?
Sorry lots of questions being a FTB.
thanks,
R Nelson

poppysarah

Surely the property can be put through probate and sold properly with full title?
Once it's officially the sons to sell ... then buy it...

I'm assuming it's being sold before then ?

I know one house took nearly a year for a very standard probate to go through so the sale could happen...

timmyt

rosenelson wrote: »

Hello Friends,
I've just recieved the draft contract and it says house is sold on 'limited title' as the house owner has died. The sellers(their son) has got a probate to sell it.
But limited title means "
Seller gives to a buyer where the seller has limited knowledge of the property that they are selling and therefore cannot give an unqualified guarantee (full title guarantee) that the property is not subject to any financial charges and that no others have any rights over the property."
Property not being subject to any financial charges are taken care by seller settling all bills and other things before completion.
But what about 'no other having any rights over the property'?
Who will guarantee this? Or how do i find this that no one else has the rights. Should my solictor do this as part of conveyancing?
I'm worried about me buying this and one fine day someone knocking on my door saying that they have the right to the property
please help!!
R Nelson

why on earth are you asking this forum and not your lawyer - no one here is contracted to provide accurate legal advice to you?

but in asnwer, LTG is what you get when buying from an executor. Millions before you have. If the land is registered and there is no obvious third party rights over your property your lawyer will advise you it is legally fine.

good luck and enjoy your house. best time to be buying so well done.

seabright

If you are buying from an executor it will always be with limited title guarantee - the executor was not the owner and can't give you full title guarantee.