Parents Land

oldfaithful

Hi

I am currently back living at home with my parents following a relationship breakup. Having now got myself settled and back on my feet if you like i am now looking into the idea of finding my own place to buy.

My parents live in a row of 3 houses ( ex council) value of around £100k and have some land at the end where there is scope for extention. The house is fully paid for and the land is definately in the deeds to my parents house.

Recently we have been discussing the possibility of building a full house extention on the land.

What legal jargon do i have to go through to claim the land as my own ? Do i have to purchase the land off my parents or are they eligible to just hand the land over.

I have a friend in the building industry who has said that to have the full ( 3 bed) extention done i would be looking at about 40k

Currently i have £8k saved up and imagine i could make that figure around about £15k (Minimum wage job) by the end of 2011, which would give me a decent sized deposit.

I also believe i would need a self build mortgage as opposed to a normal mortgage

I appreciate i would have to go through PP and everything as normal but has anybody had experience of purchasing land off a family member or even a self build that could give me any helpful info

Thanks

CLAPTON

what do you mean by an 'extension' ... will it be attacted to their house?
will there be a seperate entrance/access to the new property?

there is no specific problem buying land off your family or indeed if they gave it to you
it would need to be registered with the land registry and you would probably be best to use a solicitor although it isn't essential

Oldernotwiser

I'd chat to the planning office first; it doesn't sound like the usual extension and you may not get pp.

oldfaithful

It would be a completely seperate dwelling, basically going from a row of 3 to a row of 4.

i wouldnt envisage to many problems with the actual build should i get the required PP as the water,Gas etc are already to go.

Johnhowell

oldfaithful wrote: »

What legal jargon do i have to go through to claim the land as my own ? Do i have to purchase the land off my parents or are they eligible to just hand the land over.

The land for the extension would be a Transfer of Part of a Title (Land Registry form TP1) and usually dealt with by a conveyancer or solicitor. Purchase price as agreed by the two parties involved. Stamp Duty will be due if over the threshold.

oldfaithful wrote: »

I have a friend in the building industry who has said that to have the full ( 3 bed) extention done i would be looking at about 40k.

Add another 40k for fitting out the empty shell - carpets, decorating furniture, etc...

oldfaithful wrote: »

I appreciate i would have to go through PP and everything as normal but has anybody had experience of purchasing land off a family member or even a self build that could give me any helpful info

Building Control will also be involved.

Regards,
John