HI first time buyers don't understand the jargon? Anyone know what this means?

thefoodstop

hi we are interested in purchasing our first property and dont understand the below info on the property add any advice really appreciated thanks worried about most of it especially the caution bit. Thanks in advance



The matters set out in the GENERAL CONDITIONS.
and
Those matters contained or referred to in an indenture dated 9 December 1911 made between Sir ............(1) and the Mayor ................... and Burgesses of the Borough ................... (2)
Those interests deriving out of a lease dated 5 November 1985 between The Council of ....... (1) and The Eastern Electricity Board (2) registered under title no BD.......
A caution registered under title BD...........
Those matters contained or referred to in the prescribed form .

ChrisM90

I am by no means an expert in this area but from my knowledge I interpret it as follows:

An agreement was created in 1911 been created between Sir ... & the Major . . . in relation to the property and it may still be subject to terms of this agreement. However, this sounds historic and it is unlikely these will still be in effect/the benefitee aware of their rights. You may be able to obtain indemnity insurance which would cover any costs that may arise from any claim against you.

Similarly, the Council granted a lease to the electricity board in November 1985 for (most likely) a section of the land the property sits on for their equipment.

I recommend that you try to obtain both of these agreements and take further advice on their contents.

G_M

ChrisM90 wrote: »

..... However, this sounds historic and it is unlikely these will still be in effect/.

This is a HUGE assumption.

It is perfectly possible the rights and obligations are still in force.

Thwy might be rights of way. Or repairing obligations. Or.....

The only way to find out is to read the 1911 document in question!

thefoodstop

Thanks very much for that unfortunately I don't have the 1911 document I will try to obtain as for the electricity board they is a little area for an electric station next to the property maybe it's just saying that has rights and can be challenged in the future?. Really appreciate your opinions thanks

G_M

thefoodstop wrote: »

Thanks very much for that unfortunately I don't have the 1911 document I will try to obtain as for the electricity board they is a little area for an electric station next to the property maybe it's just saying that has rights and can be challenged in the future?. Really appreciate your opinions thanks

It may or may not be lodged with the Land Registry. If in doubt, ask.

Fire_Fox

Welcome! Is this for an auction property? You really should get the legal pack checked over by a solicitor if so. If it is a regular purchase why is your conveyancer not explaining this to you? Bear in mind few here have legal qualifications, all we can give is lay opinion.

Richard_Webster

The matters set out in the GENERAL CONDITIONS.
and
Those matters contained or referred to in an indenture dated 9 December 1911...

This looks like a contract condition - so where did OP get it from?

Is it in a set of auction particulars? If so do not go to the auction without being properly advised beforehand about the legal side of what is being bought.

OP really needs a solicitor to explain it all to him otherwise he is likely either to think it is terrible, or to assume too easily it doesn't matter. If it is 1911 there's a god chance it won't have much to do with anything now - BUT he cannot assume that - he needs to see what it says and be advised on it.