Title Restrictions - Help!!!

gregg01592

There is a restriction on the property i am trying to purchase???

it reads-
'No disposition by a sole proprietor of
the land (not being a trust corporation) under which capital money arises is to be registered except under an order of the registrar or of the Court.'

Any help or advice would be much appreciated as i dont really understand what is means exactly

Cheers

Gregg

loubel

It means that there has to be two sellers to sell you the house.

girl_withno_name

Presumably there are two current owners and this clause prevents one of them selling alone (which may well also be "prevents one of them selling without the other one knowing!")

Hobbers83

Gregg, I am in a similar position where it seems the previous owner of the house I am trying to buy got divorced at some point and his wife put a restriction on the title saying it couldn't be sold without her say so.

This has turned into a bit of a nightmare as there are now 3 sets of solicitors involved (mine, sellers and sellers ex-wife's) none of which seem to be moving particularly quickly to get this sorted (it's taken 2 weeks to get the ex-wife's solicitors to agree to speak to the sellers solicitors to have this restriction removed) - frustrating as it's the last thing holding me up before exchange!

gregg01592

in my case the property is a reposetion and has been empty since 2005. The seller is trying to force me to exchange contracts with the restriction still in place, they say that it can be removed after completeion. My solicitor does not agree and is not comfortable that it can be removed after completion???

Hobbers83

Gregg - our situations are more similar than I thought! Mine is also a reposession and the seller is also trying to pressure me into exchanging ("just take a view on it" is her expression). My solicitor is adament this needs sorting prior to exchange. My understanding is that the contact at the selling company is just some kind of admin person and doesn't understand the legal complexities!

maninthestreet

If your solicitor (the one YOU are paying to look after your interests in the property purchase) is indicating that you should not proceed with the purchase with that clause in place, you would be unwise to proceed.
Maybe this explains why the property has not sold in 7 years?

gregg01592

Hobbers83 wrote: »

Gregg - our situations are more similar than I thought! Mine is also a reposession and the seller is also trying to pressure me into exchanging ("just take a view on it" is her expression). My solicitor is adament this needs sorting prior to exchange. My understanding is that the contact at the selling company is just some kind of admin person and doesn't understand the legal complexities!

The seller is saying they have pulled the sale from us until we are in a position to sign. Which we are not going to do until the restriction is removed. It seems that they dont want to get it resolved and just want to do as little as possible. The agents have told us there is no other interest in the property so i dont understand why they would be so obstructive in resolving the issue.

We have also got an issue with the boundaries shown on the title plans as half of the land is not shown on the plan which is quite substantial. They are not at all helpful in resolving this issue either

girl_withno_name

Why is there an issue with leaving this in?

Ours states the same and our solicitor hasn't drawn any specific attention to it.

Conrad

gregg01592 wrote: »

It seems that they dont want to get it resolved and just want to do as little as possible.


We have also got an issue with the boundaries shown on the title plans as half of the land is not shown on the plan which is quite substantial. They are not at all helpful in resolving this issue either

It's not uncommon for owners to be this way. I can see both sides of the argument. From a sellers view why should they be aArsed to bother with all that 'headache' and hassle (in thier view), all they want is a buyer, someone else will come along, maybe a cash buyer. I bet all thier neighbours and freinds (as ever is the case) will be on thier side telling them to 'tell the buyers to poke it', just as your freinds and aquaintences will be saying 'tell the sellers to poke it'.

Us Humans nearly always see it from our freinds view.

Hobbers83

My solicitor tells me that unless the restriction is removed he can't transfer the title of the property to me - a fairly major problem!