Can you split land that has possessory title?

bobbins13

Hi
I'm buying a home that has an additional piece of land that is registered with possessory title that is being transferred to me in my name as part of the overall sale. 
One of my new neighbours to be has already approached me asking to buy half of the possessory title land, the idea being that he use it for parking (which is also what I wish to do).
I suspect I could sell the whole piece of land with an indemnity policy?, however actually I am not willing to give it all up, and if we split it the only access would be via one of us having right of way over the other's piece of possessory title land which goes against everything possessory title stands for? As the one with granting the right of way would be able to claim use of the grantor's possessory parcel. 
Am I right in thinking I can't split off land into parcels unless I have freehold/absolute title (which will be in approx 10 years)?
Does anyone know about this and have any advice please? 
Kindest Bobbins

Mickey666

Short answer is yes, you can split off part of land you own with a possessory title.  I know this because I’ve done it with one of my neighbours.  

An indemnity policy is really for your neighbour to consider.  I can’t see any risk to you by selling a piece of possessory land in your name.  In my case, I insisted that the neighbour paid all my legal fees and any indemnity policy they required.

I also don’t see any issue with granting a ROW over your land, possessory or not, but would recommend formal legal advice about that because, theory, a possessory title could be challenged by someone with a better claim to the land than you and I don’t know what might happen to any ROW that you agreed.

Do you know why the land only has possessory title?  Do you really want to sell to the neighbour?  How have you decided on the sale price?

Ozzuk

Don't forget if you have a mortage then your lender will need to be involved and has final say...

bobbins13

Thanks Mickey666...the land is in a dead end with no access to it other than from the property I am buying so the previous owners registered it after having sole access for 12 years. I am honestly not sure about selling it and actually he doesn't seem to want to do it legally, just bung me cash so he can use it which makes me uneasy to say the least.
Ozzuk, the mortgage is for the property with the land included in that plot - the possessory title plot is separate and is being transferred to me by the owner but is not on the mortgage...

xylophone

Why not consult your conveyancing solicitor?

bobbins13

Thanks xylophone...I'll see what they say. 

quotememiserable

Why not rent a space to him. Then you can retain ownership and there's no right of access confustion in future.

Mickey666

quotememiserable said:

Why not rent a space to him. Then you can retain ownership and there's no right of access confustion in future.

Yes, definitely worth consideration, especially as the OP seems undecided about wanting to sell.
I’d say worry more about what the OP actually WANTS rather than be concerned about possible complications about possessory titles etc - all that is just paperwork and can be fairly easily sorted out.  More important is to decide what sort of deal, if any, they actually want to agree with the neighbour.