Buying a house, seller has lost deeds?!

Hippychick

nollag2006 wrote: »

For something as basic as this, their solr can do it over the phone in 20 minutes. Shouldn't hold things back at all

This is certainly not basic and won't take just 20 minutes over the phone.

Reconstituting title can be a tricky process and will involve statutory declarations and the like, depending on the circumstances it may hold things up a little while.

You need to check whether your mortgage lender will lend on a possessory title, some don't, you also need to bear in mind that possessory title may affect your chances at resale should you sell within 12 years.

Seek the advice of your solicitor before taking anything further.

frankfrankly

You guys seem v knowledgable!

Does it matter that they haven't lived there for 12 yrs, ie it has been inherited from their parents (who have lived there for 12 years +)?

Any idea on time frame for this? My solicitor and the estate agent seem to have no idea!

Also, going down this route I take it the LR will not re-issue full deeds?

Really appreciate this...

nollag2006

For the avoidance of doubt, I was solely referring to the act of securing the indemnity insurance

scaredlady

Hi My husbands grandparents owned this house from when it was built then came via husbands mother and aunt to him, never been registered with the land registry, took us nearlly 2 years to get it. we were going for a remortgage hence why we had to go for voluntary register. slight gaps in the middle when husbands mother died, and ownership of the house was sorted. other problems were houses either side are not registered either. ofcourse if properties either side are registered it will be more obvious what land goes with the house you are after.

Bananamana

yes the seller can still aquire possessory title even though they themselves haven't been there for 12 years. They may need to get supplementary statements from neighbours to coroborate their own statements that their parents owned for over 12 years. LR will also send a surveyor out. It isnt a quick process - Last one I saw was 2 -3 months.