Buying house unregistered with documents missing

BossyFlossy

So, we are quite invested in the process of buying a house in an area where it appears common for land to be unregistered with the land registry.
Last week we found out by chance when asking why the searches hadn’t been carried out that a couple of documents are missing.
1. The plan to the root of title dated 1988
2. The deed of gift dated 1968
The sellers solicitor has done an expedited application to LR as the property is about to be sold.
Our solicitor tells us that it will take no longer than 10 days ....really? Even with the expedited fee, surely this will take longer?
The sellers solicitor says the title will have an entry that ‘such and such deed was not produced on first registration and the title in subject to unknown covenants etc, referred to therein’ and this type of entry will see the sellers having to provide an indemnity policy to us.
Is it wise and possible to get an indemnity policy for this and will this be a good title to the land or just be a box of headaches when we come to sell?
TIA you wonderful lot :beer:

FreeBear

BossyFlossy wrote: »

Our solicitor tells us that it will take no longer than 10 days ....really? Even with the expedited fee, surely this will take longer?

Can't comment on your other questions, but 10 days does sound very optimistic. When I did a compulsory first registration, it took the best part of six months to get it all sorted.

AdrianC

BossyFlossy wrote: »

The sellers solicitor says the title will have an entry that ‘such and such deed was not produced on first registration and the title in subject to unknown covenants etc, referred to therein’

We have that on a part of our plot - it's a smallish area that used to have a house on it, and the covenants relate (presumably...) to that house. All that's left of it is a single low wall.

I am very relaxed over it, since the chances of it ever coming to light and causing an issue are roughly zero.

and this type of entry will see the sellers having to provide an indemnity policy to us.

There is no "have to".


A buyer can ask for an indemnity if it makes them feel warm and fuzzy inside.
The seller can agree or refuse.
The buyer can then decide how important the indemnity is to them, whether they want to press the issue, just pay for it themselves or walk away.

da_rule

Yes it is possible to get indemnity and it is absolutely wise (if you have a mortgage lender they will probably insist on it). Your solicitor should make sure that the benefit of the insurance can be passed to any future buyer and their mortgage lender.

In the grand scheme of things this isn't the largest issue. It is also relatively common for a deed referred to in other deeds to be missing or for a plan to have fallen out etc. This is shown by the fact that the Land Registry have specific wording they use in such cases.

10 days does seem a bit optimistic and is probably based on the rest of the application being straightforward and no further requisitions being raised.

BossyFlossy

UPDATE
Well our sellers have found the missing plan and a plan connected to a previous sale of the house in the 1980’s. In addition the asked for a statement of truth from the sellers and were hoping to get a green light today but Noooooo! They now are going to send out a surveyor!
Please does anyone know how long this will take we were hoping to complete in a fortnight.
Thanks so much I advance.

AdrianC

It's entirely possible a surveyor could be on site tomorrow morning, and have his report written and sent by the end of business tomorrow.


Unlikely, but possible. How long's a piece of string?

BossyFlossy

Thanks AdrianC :j

BossyFlossy

UPDATE!
Land registered in one month. All back complete! However, there is a notice on the register about IHT.
So we now have to work to get this removed as it was nil rate band.
A question other than a clearance certificate how can the owner quickly prove that this was the case and there was no IHT to pay so we can get it removed from the register? Executor had grant of probate....