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Unilateral Notice??
karlk55
Posts: 1 Newbie
Hello all,
I am looking to buy a small bungalow for my parents and am very interested in one in particular. However, a search of the Land Register has shown up that somebody has entered a "unilateral notice".I have looked around on the internet and found that a notice "protects the priority of the interest".
Can anybody explain what this means? How will this affect purchase of the property?
Any advice welcome,
Thanks, Karl
I am looking to buy a small bungalow for my parents and am very interested in one in particular. However, a search of the Land Register has shown up that somebody has entered a "unilateral notice".I have looked around on the internet and found that a notice "protects the priority of the interest".
Can anybody explain what this means? How will this affect purchase of the property?
Any advice welcome,
Thanks, Karl
0
Comments
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Usually it is because someone is owed some money by the seller and the notice protects this. As long as the seller's solicitor can arrange to have it removed (by paying them off out of the sale proceeds) there should be no problem.
Usually the seller will know vaguely about it so if OP mentions the name of the people who registered it he will probably be told something like "Oh, yes, we owe XXX some money, but there'll be enough money out of the sale to pay them..." Make sure the seller has done his sums right and there will be enough money...RICHARD WEBSTER
As a retired conveyancing solicitor I believe the information given in the post to be useful assuming any properties concerned are in England/Wales but I accept no liability for it.0
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