Leasehold paperwork

csibi15

Hi there'


Good Evening,

I'm wondering if anyone can help me in our case.


We're just on the way to finalise and buy a leasehold property. But yet we have a last minutes issue with the sellers paperwork.

Issue is according to our Solicitor:

The land-registry dose not have the original paperwork of the lease, moreover they don't have any paperwork regarding the lease.

However the seller was able to provide a copy of the original lease done back in 1994 with the previous owner. ( not the recent seller).

Question:

Is the land registry able to re register the lease?

If not what rights we have to register the lease after buying the property?

Shel we buy this property?




According to our Solicitor the exchange can be done but we might have the same issue when we're selling the house.



Many Thanks !!

A.

G_M

You are buying the original lease (issued in 1994). You may be buying from the original leaseholder from that date, or the lease may have been sold once, twice, 30 times since then - it does not matter. It is still the same lease that you are buying, and it will therefore always name the original leaseholder from 1994 - that name will never change.

What matters is

a) that you have the original (or a verified copy) so you can see the terms of that lease and
b) that the person you are paying is the current owner of the lease. That does not mean his name will be on the lease (that will always be the name of the original leaseholder). In 90% of cases it means his name is registered with the Land registry as the (current) owner of the leasehold Title.

csibi15

The issue is as the land-registry don't any lease documentation of this property and we have a just a copy of the original lease,

da_rule

You are potentially purchasing an unregistered lease. This isn’t the end of the world and your solicitor will arrange for it to be registered once you complete.

However you say that the current seller has only produced a copy of the lease. Do they have the original (or a certified copy). If not you may have problems with registering it but you may be able to obtain indemnity insurance to protect you from the risk. The question will be whether your lender (if you have one) will accept it.

csibi15

The Seller was able to provide a copy of the lease' nobody know who has the original one.

Are we OK to-buy the property and then re register the lease with this copy to the Land-R.

The Mortgage lender seems OK with everything.

da_rule

You’ll need to ask your solicitor really. It’s going to depend on what evidence could be provided to the Land Registry to prove title.

G_M

I imagine your solicitor has already explored this, but..... who is currently registerd as the Freeholder at the Land Registry? They may have the original lease, though I imagine your seller has explored this possibility.



(if not sure, pay £3 and buy the freehold title here)

csibi15

The Freehold is the local council. And we contact the freehold and they don't have the original paperwork.

OMG

G_M

csibi15 wrote: »

The Freehold is the local council. And we contact the freehold and they don't have the original paperwork.

OMG

Do they have a copy?

Assuming
a) they have a copy
b) it matches the copy you've been passed
c) the terms of the lease within it are acceptable to you

then the risk seems small. And an indemnity policy bought by the seller (£100?) and pased to you would protect against the very remote possibility of the original turning up and being different.


There again - who am I? Just dome noggin on the internet! Go and sit down opposite your solicitoor and get it all explained, risk, costs, and advice.

csibi15

Great!


Well the Freehold seems to have the same copy in his file as the tenant ( current seller) moreover at the Land Registry you can see the tenant (current Seller) and yes we are happy with the term a condition in the copy of the lease.




But Yet we were worried because the seller can't provide the original lease we're not going to be able register to the HM LR..

IS the Freehold or the HM LR who can release a new Original paperwork after when we completed the connivence and we're going to be the new tenants?


Thanks Guys for you answer!

G_M

When you buy the lease (Complete your purchase) you (or your conveyancer) will send forms to the Land Registry (TR1 etc).


The Land Registry wil check these, and update the 'leasehold Title' (NOT the lease itself), to record you as the new owner of the lease.