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Fee farm grant

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  • 09-11-2013 8:37am
    #1
    horsehorse
    Registered Users Posts: 4 ✭


    Hi, I'm in the process of buying an old property in Dublin and vendor has lost the fee farm granted 1869. What potentials issues will this cause in the future. Should we continue with the deal, our solicitor has reservations continuing with the deal.

    Thanks.


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    #2
    keithclancy
    Registered Users Posts: 9,208 ✭✭✭keithclancy


    horsehorse wrote: »
    Hi, I'm in the process of buying an old property in Dublin and vendor has lost the fee farm granted 1869. What potentials issues will this cause in the future. Should we continue with the deal, our solicitor has reservations continuing with the deal.

    Thanks.

    Long story short it means you might possibly have no title to the land that the house is built on.

    Walk away.


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    #3
    horsehorse
    Registered Users Posts: 4 ✭horsehorse


    keithclancy wrote: »
    Long story short it means you might possibly have no title to the land that the house is built on.

    Walk away.

    Thanks Keith. Its not really an option, too long to explain, is there any solution? Thanks


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    #4
    dudara
    Registered Users Posts: 33,518 ✭✭✭✭dudara


    Moved to Accommodation & Property

    dudara


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    #5
    Victor
    Registered Users Posts: 78,415 ✭✭✭✭Victor


    horsehorse wrote: »
    Thanks Keith. Its not really an option, too long to explain, is there any solution? Thanks

    For all you know, the fee farm grant was for 150 years and expired in 2009, which mean the landlord could come knocking any day and take the land and house complete, leaving you with nothing. A bank won't agree to that.

    You might be able to get insurance to cover this, but you need the vendor to pay the insurance premiums for X years before the transaction goes through.


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    #6
    horsehorse
    Registered Users Posts: 4 ✭horsehorse


    Victor wrote: »
    For all you know, the fee farm grant was for 150 years and expired in 2009, which mean the landlord could come knocking any day and take the land and house complete, leaving you with nothing. A bank won't agree to that.

    You might be able to get insurance to cover this, but you need the vendor to pay the insurance premiums for X years before the transaction goes through.

    Thanks, surely this happens from time to time? Would the bank accept some kind of bond? Also what will happen when it comes to registering the property with the Property Registration authority?

    Regards.


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