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Charges on a Title Deed
MadelinesMum
Posts: 862 Forumite
Hi all, I've been looking at a property that's recently been reduced from 240k to 220k. I'm quite interested, so purchased copies of the Title Deeds (there are two, one for the building and one for the land behind but it is being sold as one).
Both belong to the same person but on the land one it states they are bankrupt and on the property one it has charges on it but doesn't mention bankruptcy. It is quite a complicated read and I'm not used to the jargon.
Does this mean it will be a hassle to buy? I am thinking the owner is trying to sell it before it is repossessed.
Both belong to the same person but on the land one it states they are bankrupt and on the property one it has charges on it but doesn't mention bankruptcy. It is quite a complicated read and I'm not used to the jargon.
Does this mean it will be a hassle to buy? I am thinking the owner is trying to sell it before it is repossessed.
I must remember that "Money Saving" is not buying heavily discounted items that I do not need. :hello:
0
Comments
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Pop into your local soliciors. They are likely to give you 30 mintes free advice, especially if you are asking for a conveyancing quote at the same time!
However my instinct is that as long as the owner still owns both Titles (which may not be true of the 'bankrupt' one), AND guarantees to discharge the Charge, it's fine.0
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