We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Strange situation - house buyer
andywalker2005
Posts: 28 Forumite
<<Deleted>>
0
Comments
-
Do you mean the current occupiers are tenants?0
-
Then who's their landlord?0
-
Bit odd. Normally the bank would want to get them out before marketing. Is there any suggestion of when they're leaving?0
-
Are you doing the conveyancing yourself? If yes, this is the time to hand over to a solicitor.
If not, speak to your solicitor! His job is to verify ownership and ensure that the Title is safely transfered to you.
Please explain. Who are the 'joint owners'? The occupier and the bank? The occupier and his partner? The occupier or bank and someone else?The property is freehold with joint ownership.
Who is the Trustee? What rights are recorded in the Trustee's name on the property Title?
If the occupier is now a tenant (the property having been repossessed - which is not clear), then I would do nothing till the tenant/occupier has been evicted.
But as said, this is one for your legal adviser.0 -
Are you doing the conveyancing yourself? If yes, this is the time to hand over to a solicitor.
If not, speak to your solicitor! His job is to verify ownership and ensure that the Title is safely transfered to you.
Please explain. Who are the 'joint owners'? The occupier and the bank? The occupier and his partner? The occupier or bank and someone else?
Who is the Trustee? What rights are recorded in the Trustee's name on the property Title?
If the occupier is now a tenant (the property having been repossessed - which is not clear), then I would do nothing till the tenant/occupier has been evicted.
But as said, this is one for your legal adviser.
Thanks, at the moment I dont know most answers to these questions but I'll need find it out.
The Registry (form gov website) shows the Two occupiers (who claims to be tenants) are joint owners (husband and wife).
On the memo of sale the Trustee's name is listed as seller.
How do you find out if the property is repossessed?0 -
After doing some digging on the inter-web, it looks like this can be a case of CCJ and court may have ordered the seller to sell the house and pay-off the debt (appointing a trustee usually a family member or friend). However it is possible that court can not force to sell the house until seller keep up with a set monthly payments (this bit I am not sure about though). If this is true then it can drag for long time.
Usually if I want to pay off my debt (to avoid repossession and/or bankruptcy) I would be eager to sell the property as quickly as possible but this seller first is posing as tenant and then setting up arbitrary dates (verbally) to move out of the property and keep changing it. this way the seller can buy some time to arrange cash. (again I am not sure about this is just my guess!). Unfortunately I am not getting a correct (trustworthy) information either from seller or EA!
Any inputs are most welcome...0 -
When you buy a house with someone else, you can 'joint tenants' or 'tenants in common'. Is this what you are talking about?
Anyone who jointly owns a home will have ticked of those boxes when they bought.
If the property has been repossessed, the ownership doesn't move to the bank with the land registry, they are already registered with the first charge on the property and are just invoking the sale.
Your solicitor will have more information and proper answers. You should ask them. I don't think that Google is your friend.Everything that is supposed to be in heaven is already here on earth.
0 -
Look at section C of the Title: The Charges Register. Is the trustee listed there?0
-
Look at section C of the Title: The Charges Register. Is the trustee listed there?
Its not listed in Section C. However In section B there is a restriction clause Added recently which has the same person's name which is listed on the memo of sale. Am I mistaking this person as trustee?0 -
andywalker2005 wrote: »Unfortunately I am not getting a correct (trustworthy) information either from seller or EA!
Well, you won't, will you. It's not in their interests to give you reliable information that would probably put you off buying.
You need to instruct a solicitor experienced in conveyancing law.A kind word lasts a minute, a skelped erse is sair for a day.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.3K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.3K Work, Benefits & Business
- 601.1K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards