Buying the house we rent with no deeds and not registered

Far_and_few

Margot123 wrote: »

Do you have to buy this particular house?
There are plenty more on the market with a lot less risk.

Good point. We may decide we should do that. Though this place is pretty damn good for us, it would be a pity. Also where we live, property is in high demand and things like this don't come up often.

Far_and_few

jonnygee2 wrote: »

Well you don't own it yet, so if you want to keep living there I'd imagine you'll need to pay rent!

At present we don't know who does own it. The landlord has no deeds and it is not registered.

AdrianC

That's not really your problem, though. Your landlord may well be subletting, for all you know - and that's not necessarily a problem. If it is a problem for anybody, then it's his problem, not your problem.

You have a tenancy with that landlord, and you owe rent according to that tenancy.


If you want to buy the property, then your solicitor will ensure that you are fully aware of the title situation, and will not allow you to proceed unless and until the title issues are satisfactorily resolved. If you need a mortgage, then your lender won't release funds until they're happy with the title situation. The same will apply for any buyer.

BrassicWoman

Far_and_few wrote: »

Well kinda. We instructed our solicitor beginning of April after selling our family home (which we were letting out) ready to buy so we are losing all the rent for that every month. .

But you could be gaining interest or doing as you choose with that money. The fact that you are chooing to wait to bu a new house is up to you.

xylophone

Seller bought it in the 80's/90's with a mortgage and lived in it.

Is it possible that the mortgagee still has the deeds?

G_M

Far_and_few wrote: »

......after selling our family home (which we were letting out) ready to buy so we are losing all the rent for that every month. .....

Rubish.


You have (presumably) a large cash sum from the sale. Whether you choose to leave it in a current account losing money till this sale proceeds or not is up to you. You could


* invest it
* buy a different property
* spread it around earning from 1 - 5%
* pay off a any debts you have
etc

Far_and_few

xylophone wrote: »

Is it possible that the mortgagee still has the deeds?

Not had any joy with that route so far. Thanks for the thought though.

Cakeguts

Far_and_few wrote: »

Thank you. LL rented out for many years but the property was for sale and empty for the two years before we moved in.

This doesn't prove that the person you rent it from owns it. It just makes it more likely that the person you are renting from doesn't actually own it and they are actually a tenant subletting to you.

Tiglet2

If he and you have both instructed solicitors then it will be their responsibility to check that everything is in order. The "owner" won't be able to sell to you unless his ownership of the property is confirmed. So, the owner needs to find "the deeds" pretty quickly or know where the deeds are lodged. Otherwise this transaction is going nowhere.

Cakeguts

Why are you paying reduced rent? What was the reason that the owner gave for accepting this?



Is the owner offering the house to you at a very low price?



It sounds as if this sale isn't going to happen.