What problems are there in purchasing a property in the United Kingdom, where the securities have been lost? I'm considering buying a property from a government agency where the title deeds to the property was lost. The property will be sold with a statutory declaration.
None for the initial sale, the sale will be registered with the Land Registry. However, if the acts re-appear later and the actions of the alliance on them, it could be a problem.
Tricky - I know a fry in the same position, but because of his death and lost documents due to a credit society!
Bad News - But im sure your lawyers can sort
If a government agency is selling the property and is unable to produce a deed to land, there is the risk they were squatting and the true owner appears after you have paid for it. Much easier to win your share at the hearing that the government. You do not know what the use of the statutory declaration will. If you really want the land, I suggest you start a detailed search of the property through the registry.
Even if the original documents were lost, the title will be registered at the Registry of the land, they can give you advice on the status of the property. If there is no doubt continue, your lawyer should ask the seller to provide insurance coverage against the mis-sell you the property.
A statutory declaration is as good as the acts - many people lose their acts and SD replaces. Once the property is registered in the name of the purchaser under the new system, the rights will be recorded in the computer and thus solve this problem.
Posted on September 5, 2010.