We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
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.
Auction Property Charges Register - Help to Understand Risk?
Blue_Boston
Posts: 11 Forumite
Hello! I am interested in a probate auction property and I flagged a coupled issues in the title charges register to my solicitor.
The charges are:
1. Notice of home rights under the Family Law Act 1996 in favour of XXXX the spouse or civil partner of YYYY.
2. REGISTERED CHARGE contained in a Court Order by County Court dated 2011 under case reference 123456789. (Note Copy Filed)
3. Proprietor: XXXX
My solicitor said the special conditions of the auction should be amended to confirm that the seller (executor of the will) will provide a duly executed HR4 and DS1.
I've looked at the HR4 form. As the absolute title proprietor (YYYY) is now deceased, can the home rights be dissolved because the "Original or certified copy death certificate or other evidence of the death of either spouse or either civil partner"?
The DS1 form seems more complex. I guess it would depend whether the terms in the country court case were satisfied? How much risk do I expose myself if the DS1 isn't completed?
The charges are:
1. Notice of home rights under the Family Law Act 1996 in favour of XXXX the spouse or civil partner of YYYY.
2. REGISTERED CHARGE contained in a Court Order by County Court dated 2011 under case reference 123456789. (Note Copy Filed)
3. Proprietor: XXXX
My solicitor said the special conditions of the auction should be amended to confirm that the seller (executor of the will) will provide a duly executed HR4 and DS1.
I've looked at the HR4 form. As the absolute title proprietor (YYYY) is now deceased, can the home rights be dissolved because the "Original or certified copy death certificate or other evidence of the death of either spouse or either civil partner"?
The DS1 form seems more complex. I guess it would depend whether the terms in the country court case were satisfied? How much risk do I expose myself if the DS1 isn't completed?
0
Comments
-
Is the charge similar to it greater than guide price? If so worry...2
-
It doesn't indicate the monetary value unfortunately.theartfullodger said:Is the charge similar to it greater than guide price? If so worry...0 -
I believe the problem is, if the value of the charge isn't paid on completion it won't be removed, in which case you won't be able to register the title in your name. If the sale price is less than the charge, this will cause you a problem.
I would get confirmation prior to purchase that this charge will be paid in full on completion.1 -
In your position, I would try doing the following...
Contact the auction house to say that... your solicitor has advised you that it's not safe to buy the property unless the special conditions of the auction are amended to confirm that the seller will provide a duly executed HR4 and DS1.
And can the auction house contact the seller to see if they are prepared to do that.
The seller might...- Say "no" (or ignore the request), or
- Speak to their solicitor to get their advice - and potentially add the new condition
(The seller's solicitor's name and address is probably in the legal pack - but I wouldn't try contacting them. You're not their client, and they might not have any instructions to deal with pre-contract enquiries.)
1
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 349.8K Banking & Borrowing
- 252.6K Reduce Debt & Boost Income
- 453K Spending & Discounts
- 242.8K Work, Benefits & Business
- 619.6K Mortgages, Homes & Bills
- 176.4K Life & Family
- 255.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 15.1K Coronavirus Support Boards