Help with reading Title register

mug51

Hi,

I'm currently looking at buying a home, any house that I have some interest in, I research it by buying the title register, simply beacuse I have a feeling they are all leasehold.

Well, I buy the freehold Title register for a property and below is an extract from it:

A: Property Register
This register describes the land and estate comprised in the title.
TYNE AND WEAR : NORTH TYNESIDE
1 (22.01.1992) The Freehold land shown edged with red on the plan of the above Title filed at the Registry.

2 The mines and minerals together with ancillary powers of working are excepted with provision for compensation in the event of damage caused thereby.

3 (13.02.1992) The land has the benefit of the following rights granted by but is subject to the following rights reserved by a Conveyance of the land in this title and other land dated 19 December 1991 made between (1) Barratt Developments Plc (Vendor) and (2) Starcrest Developments Limited (Purchaser):-

The Vendor hereby grants in fee simple to the Purchaser and its successors in title (in common with all others entitled) the same rights and easements over any retained neighbouring land of the Vendor as were granted by the said Leases as if the same were repeated herein full

EXCEPTING AND RESERVING in fee simple to the Vendor and its successors in title to any retained neighbouring land of the Vendor (and being the residue of the Land(s) conveyed by the Conveyance(s) to the Vendor referred to in the Second Schedule hereto) and all others entitled or authorised by the Vendor the same rights and easements as were excepted and reserved by the Leases firstly referred to as if the same were repeated herein full.

NOTE: The lease which relates to the land in this title is that referred to in the Charges Register.

B: Proprietorship Register
This register specifies the class of title and identifies the owner. It contains any entries that affect the right of disposal.

Title absolute
1 (06.10.1998) PROPRIETOR: FREEHOLD PROPERTIES LIMITED (incorporated in the Isle of Man) of Level 32, 30 St Mary Axe, London EC3A 8EP.

2 (06.10.1998) A Transfer dated 4 September 1998 made between (1) Starcrest Developments Limited (Transferor) and (2) Freehold Properties Limited (Transferee) contains purchaser's personal covenant(s) details of which are set out in the schedule of personal covenants hereto.

C: Charges Register
This register contains any charges and other matters
that affect the land.

1 The land is subject to such rights of way and rights in respect of drainage, water, gas, electricity and other domestic supply services as are granted by leases of adjoining or neighbouring properties.

2 Lease dated 15 September 1978 for 99 years from 1 November 1976.
NOTE: Lessee's title registered under TY64278.
End of register

So this is the way I read it: the property the title relates to is still under leasehold with 63 years left and the freehold is owned by Freehold Properties Limited? However, a google search of Freehold Properties Limited does not give me any meaningful results.

Am I anywhere close to what the title register means?

Thank you.

G_M

Are you buying the lease, the freehold, or both?

Have you got/read the lease(s)?

Have you got the Conveyance referred to ( a Conveyance of the land in this title and other land dated 19 December 1991 )?

Regular posters will recall that I periodically advocate DIY conveyancing, given the right property, circumstances, and individual.

I would personally not DIY this one!

Richard_Webster

The lease is only 63 years - run away fast. Not all lenders will lend on it and even if you do get a mortgage then you will have difficulty selling it without first buying the freehold which could cost quite a lot.

It is really sad that there were enough people out there in 1976 who were conned by developers into buying houses with only 99 year lease s in the first place. I would have just told the builder to stuff his house unless he sold it freehold - but I guess they banked on a lot of people not understanding that they were storing up trouble and cost for themselves in the future.