Title query

STAR_BUCK

Hiya Folks

Can one of you very clever people help me with understanding what a 'limited title guarantee' means. I'm buying a house and just got my contract yesterday to check and sign so that we can exchange soon.

thanks in advance for your help!!!!!!!!!!

STAR_BUCK

Well don't all rush at once to help :rotfl:

i've googled search it

thanks anyway

Ian_W

Blooming Eck, mate - 25 mins on a Saturday night ain't a load a time to give folks to reply. :rolleyes:

Personally, I've never heard of it. Ask your solicitor Monday AM - it's what you're paying them for. In fact they should have explained it in a covering letter with the contract - so give em a borricking!

MegS

It means the sellers are selling with limited title guarantee because, for example, they are executors of a Will. In other words the owner of the property is dead and they are selling off assets to the estate for the distribution. This is the most common reason people sell with limited title and off the top of my head can't think of any more. If they are not executors I could ask at work tomorrow for other examples (if any). Oh one other could be the person owning the property is no in a position to be able to sell (for example has Alzheimers, or suchlike, and his relatives have power of attorney which has been registered at the Court of Protection). HTH

mrsS_2

I may be wrong, but sometimes a house is not registered at land registry(beacause it has been owned by one person for the last 60 years before it had to be registered ) and the owner dies and the kids sell it off but cant actually prove it belongs to them unless they have owned it for 10 years.

definately question the solicitor on this one.

mi-key

We had the same thing on the house we are buying - checked with the solicitor and they said its a standard thing when the house is a probate sale, and not really anything to worry about. Its because the executors of the estate ( the deceased family for example ) havent ever had the house in their name, so legally cant sell it with a full title guarantee.

Our solicitor told us that as long as you are pretty sure the people selling have the right to do so, then its not something thats a problem.

In our case it is the sister and her husband of the deceased owner ( who was shown as having full title to the house ) who are the executors for the estate.