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Possible fraud?
Comments
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You're right, xylophone, all I said was irrelevant drivel. It feels "wrong" somewhere, but I'm afraid I'm always shocked to hear of apparent wickedness.
Presumably the current registered proprietors don't even know yet that she's died.:money:0 -
You're right, xylophone, all I said was irrelevant drivel. It feels "wrong" somewhere, but I'm afraid I'm always shocked to hear of apparent wickedness.
Presumably the current registered proprietors don't even know yet that she's died.0 -
Given the issue of a potential fraud, the solicitors who acted on the "sale" will want to review their files first and more than likely involve their PI provider before responding.
Be prepared for some resistance, and just let the executors/estates solicitor work through it and if required contact the Police.
.Stop! Think. Read the small print. Trust nothing and assume that it is your responsibility. That way it rarely goes wrong.
Actively hunting down the person who invented the imaginary tenure, "share freehold"; if you can show me one I will produce my daughter's unicorn0 -
Well there is some info from the solicitor that acted for her. Basically she signed an agreement like this:
http://www.propertyinvestment4u.co.uk/wp-content/uploads/2010/10/Simple-Option-Agreement.pdf
It would appear she granted Spectrum PCK Limited a right to purchase the property for £31K. The sale price of the property was £110K, of that about £20K paid off a loan secured on the property, and £10K she received herself. In other words Spectrum PCK sold her house for £110K and pocketed £79K.
The arrangement was set up by a 'DFB Housing Solutions' and her signature on the LR document was witnessed by a Jonathan Lowerson who was a director of that company, since dissolved (further google searches show his brother has been involved in a string of dissolved property companies).
The solicitor that 'acted' for her was Andrew Jay & Co of Lincolnshire. It appears that this solicitor knew the property company well, and the arrangement did not need to be explained to them.
It appears there are two things:
- the property company 'DFB Housing Solutions' acted for Spectrum PCK and convinced her to sign away her house for a pittance. It's hard to know why, unless she was being pursued for the loan of £20K secured on the property, but there is no evidence of this, and she never mentioned this to family at the time.
- the solicitor 'acting' for her was instructed by the property company and had worked with them before. One has to wonder whether they acted in their client's best interest - there is evidence that they knew she did not understand the transaction.
For every complex problem there is an answer that is clear, simple and wrong.0 -
convinced her to sign away her house for a pittance. It's hard to know why
As has been suggested, so she could live there debt-free for a set period or until her death?0 -
So done over like a kipper thenFor everthing else there's mastercard.
For clampers there's Barclaycard.0 -
I think you should contact Rip Off Britain (a BBC program which is on on weekday mornings) and let them investigate.
Her signature could have been forged as the only witness is a director of the company.
This really shouldn't be possible without evidence that the person has taken independent legal advice and it is very frightening for anyone with elderly relatives.0 -
As has been suggested, so she could live there debt-free for a set period or until her death?
There seems to be no evidence of a leaseback/rent free arrangement?
There is nothing to indicate who was responsible for the insurance?
Who is responsible for insuring the property and contents at the moment?the solicitor 'acting' for her was instructed by the property company and had worked with them before. One has to wonder whether they acted in their client's best interest - there is evidence that they knew she did not understand the transaction.
Can she possibly have thought that this constituted "independent legal advice" (Clause 7)? Was there a conflict of interest?
How could any solicitor acting for her possibly have advised her that this agreement was in her best interests?
Is it possible that this lady was not "compos mentis"?
What does your brother's solicitor advise?0 -
DFB Housing Solutions are listed by the FSA as an unregistered company to be wary of
http://www.fsa.gov.uk/doing/regulated/law/alerts/unauthorised-firms#5Note: Unless otherwise stated, my property related posts refer to England & Wales. Please make sure you state if you are discussing Scotland or elsewhere as laws differ.0 -
DFB Housing Solutions are listed by the FSA as an unregistered company to be wary of
And I notice that "Spectrum Land" ( now dissolved) also based in Essex is also on the list.....https://www.duedil.com/company/06051296/spectrum-land-limited
http://www.fsa.gov.uk/doing/regulated/law0
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