Tenants in Common & Title restriction @ LR

spectre

Good evening all, I Was wondering if anyone knew how the following could have occurred ?

background info first.
A mortgage free property owned by person A & person B as tenants in common , a form A restriction had been placed on the title deeds to reflect a Trust deed arrangement for the splitting of the estate 50 / 50 between A & B`s children upon death of the other or if the surviving person deemed it necessary they could use the NET sale proceeds towards a new property and then a similar restriction placed on the newly purchased property. to reflect persons A wishes under the original trust deed.

person A passed away about 5 years ago and person B continued to live in the property until about 1 year ago until person B decided to up sticks / sell / remarry & buy a new property jointly with there new spouse.

The title deed had the restriction (form A) under the proprietorship register section
The trust deed existed and was written as per my description above (50/50 split or NET proceeds toward a new property + new restriction) etc.

However the property was sold and there had been no split or no restriction logged against the new property for person A`s children as laid down in the original trust deed.

SO how could this have been allowed to have happened any ideas ?
thank you

ValHaller

spectre wrote: »

..... SO how could this have been allowed to have happened any ideas ?
thank you

B's solicitor neglected his duty to respect the rights granted under the trust deed.

spectre

ValHaller wrote: »

B's solicitor neglected his duty to respect the rights granted under the trust deed.

thanks for the reply , That`s assuming B actually used a solicitor , It could be that only the prospective purchaser of A&B`s property ie there conveyancer only required that the Form A restriction be cancelled or a dummy person to jointly receive the sale price (ie not the trust deed appointed representation)

Its a mystery something is not right I just do not know what yet

ValHaller

spectre wrote: »

thanks for the reply , That`s assuming B actually used a solicitor , It could be that only the prospective purchaser of A&B`s property ie there conveyancer only required that the Form A restriction be cancelled or a dummy person to jointly receive the sale price (ie not the trust deed appointed representation)

Its a mystery something is not right I just do not know what yet

I would suggest that this is not quite the best forum although the Land Registry rep will probably pick this one up tomorrow - but you will find more relevant expertise on either the House buying forum http://forums.moneysavingexpert.com/forumdisplay.php?f=16 or the probate forum http://forums.moneysavingexpert.com/forumdisplay.php?f=217

If you do post elsewhere, do the right thing and say on those threads that you have already posted - and come back here to say what you have done.

If B did the conveyancing for the sale, this could have slipped through - I don't think that the purchaser's conveyancer has any responsibility to do anything other than make sure the restriction is lifted.

I suggest that the best thing to do is to act within the week to get a Unilateral Notice placed on the title for the new property and then work through the process of getting the trust deed requirements implemented.

spectre

ValHaller wrote: »

I would suggest that this is not quite the best forum although the Land Registry rep will probably pick this one up tomorrow - but you will find more relevant expertise on either the House buying forum http://forums.moneysavingexpert.com/forumdisplay.php?f=16 or the probate forum http://forums.moneysavingexpert.com/forumdisplay.php?f=217

If you do post elsewhere, do the right thing and say on those threads that you have already posted - and come back here to say what you have done.

If B did the conveyancing for the sale, this could have slipped through - I don't think that the purchaser's conveyancer has any responsibility to do anything other than make sure the restriction is lifted.

I suggest that the best thing to do is to act within the week to get a Unilateral Notice placed on the title for the new property and then work through the process of getting the trust deed requirements implemented.

again thanks for the reply , I will leave the post here for the time being , And will follow your instructions should I deem a forum move required to close loop this thread. Regards

Thrugelmir

spectre wrote: »

Its a mystery something is not right I just do not know what yet

Have you not asked the party concerned directly ?

spectre

Thrugelmir wrote: »

Have you not asked the party concerned directly ?

Oh yes I have asked personally and the response i got was person B would do what they liked and in there own time

Land_Registry

ValHaller and spectre refer to the possibilities which exist but without checking the specific title/property it is very difficult to be precise.

Whilst whether a solicitor/conveyancer is involved can have a bearing there is also a responsibility on our part to ensure that the circumstances are correct for the title/property to be transferred/sold.

IF the sale was a straight sale then the remaining registered owner would not have been able to 'receive the sale monies' which is the same as "giving a receipt for capital monies" as per the restriction.

In such circumstances a second person is often appointed to act jointly. That aspect then deals with the title/property aspect as it is the legal title we are dealing with.

Their responsibilities to the trust, children etc thereafter are a separate aspect as that falls under the beneficial ownership.

In the circumstances you describe I would have expected the buyer's solicitor to have raised the point and/or the seller's solicitor to have satisfied the point for them.

However if an application was then lodged with us and the point had not been satisfied then we should raise the issue with the applicant.

If you are unsure as to what may have happened then I would suggest that you Contact Us and set out the issues as above. The best way forward is probably to get a copy of the Transfer which caused the new owners to be registered as this would reveal who had completed the Transfer i.e. sold it.

spectre

Thank you for your information , We have established from the land registry office today the details and specifics containted on the previous Title deed prior to the sale of the property & was advised verbally by the customer services team that the Title did have the "Tennants in common restriction" And the term quoted was that the full markup had been received for that transaction that restrication was automatically canceled and the title transfered to the new owner.

I belive an application was lodged with you and the point had not been satisfied as this sale happened over a year ago.

When you mention "get a copy of the Transfer" from yourselfs will this show the persons names selling as part of the trust arrangement ie Person B & Person C ? (person C we assume we do not know at this stage) And is this document different to the title register ?

Land_Registry

spectre wrote: »

Thank you for your information , We have established from the land registry office today the details and specifics containted on the previous Title deed prior to the sale of the property & was advised verbally by the customer services team that the Title did have the "Tennants in common restriction" And the term quoted was that the full markup had been received for that transaction that restrication was automatically canceled and the title transfered to the new owner.

I belive an application was lodged with you and the point had not been satisfied as this sale happened over a year ago.

When you mention "get a copy of the Transfer" from yourselfs will this show the persons names selling as part of the trust arrangement ie Person B & Person C ? (person C we assume we do not know at this stage) And is this document different to the title register ?

I am not sure that I entirely understand your post re the part marked in red.

The register shows the current recorded details.

The Transfer I am referring to is the document whereby one owner transfers the property to another.

In most cases where a form A restriction exists and the Transfer is on sale i.e. for a actual sum of money then the single remaining owner appoints a second person to act with them and together they transfer to the new owners.

Are you able to direct message me with details of the property and title number and I shall try to clarify what may have happened here?

spectre

I tried to but got this !

Land Registry representative has chosen not to receive private messages or may not be allowed to receive private messages. Therefore you may not send your message to him/her.
If you change that I will retry , thanks