Transfer in part

Technicallyhomeless

I am in the long process of trying to exchange/complete on a house after completing on mine on 12 Dec.

In summary, Mr & Mrs developers bought 2 cottages & transferred part of cottage 1’s garden to cottage 2. I am trying to buy cottage 2 & cottage 1 recently exchanged & completed. They have signed the transfer in part paperwork (TP1) & it has been submitted to the Land Registry.

Last Friday, my solicitor informed me that due to their being an outstanding application with the Land Registry, they will not allow me to exchange until that application has been resolved - the outstanding application is the transfer in part.

(This was after an earlier attempt last week to exchange/complete & the evening before, my solicitor informed me it wasn’t happening due to her not submitting paperwork in time! I lost my removals money & had to quickly find somewhere else to live).

I have had the application expedited this week & an error was highlighted on the TP1. I am now waiting on cottage 1’s conveyancer to amend the TP1 & send it back to the land registry so that it can be registered.

I do understand, up to a point, as to my solicitor saying that there is a risk in relation to the transfer in part not being registered etc but I do believe that this risk is very minimal, my vendors are just shaking their heads in disbelief & this is usual business for the Land Registry.

If the TP1 is not amended & resubmitted & we have to keep chasing then it will hold up my purchase for even longer & I am getting extremely fed up with it all to the point of withdrawing from the purchase or in the very least, changing solicitors. If I don’t complete by next Thursday, I will need to find somewhere else to stay once again.

If anyone has any advice, thoughts etc, it would be much appreciated.

lincroft1710

Even if you change solicitors (which will take time) your new solicitor may say exactly the same thing. My advice is be patient

Land_Registry

If you are buying with a mortgage it may well be the lender's mortgage product that does not allow the conveyancer to complete until all the ducks are in a row (computer says Yes in modern parlance). That's not to belittle the computerised process but simply to flag that 'risk' assessment is not always the conveyancer's remit and what's 'minimal' often depends on other factors

Technicallyhomeless

https://forums.moneysavingexpert.com/discussion/comment/81886330#Comment_81886330

Thank you. I’m a cash buyer so no mortgage company computer to say no.

It is all very frustrating. I have asked my solicitor to look into a title indemnity insurance policy as a way to move forward with my purchase.