Sub-dividing folios

Ihatecuddles

We're in the process of buying a house. The one we want and the one next door are both now owned by the bank.

The house next door was built about 10 years ago, our one about 20.

The problem is, they are both under the same folio number, and can't be sold until its fixed.

Does anyone know how long this wil take? The guy I rang in the PRAI said they'll have to get mappers out and subdivide the land or 'carve a piece out' for the new property to have its own folio number.

Both properties are sale agreed, and neither can further until its sorted.

Any help is appreciated! Thanks.

Kelly06

Does anyone know how long this wil take? The guy I rang in the PRAI said they'll have to get mappers out and subdivide the land or 'carve a piece out' for the new property to have its own folio number.

Carving a piece out just means that the folio that the two houses are on will be split to reflect the boundaries as they are on the ground one house will retain that number and filed plan and the other house will have a new folio and filed plan opened in the register. The land registry are really really helpful to members of the public, but as the bank is vendor perhaps their legal team are dealing with the problem?

Ihatecuddles

Kelly06 wrote: »

Does anyone know how long this wil take? The guy I rang in the PRAI said they'll have to get mappers out and subdivide the land or 'carve a piece out' for the new property to have its own folio number.

Carving a piece out just means that the folio that the two houses are on will be split to reflect the boundaries as they are on the ground one house will retain that number and filed plan and the other house will have a new folio and filed plan opened in the register. The land registry are really really helpful to members of the public, but as the bank is vendor perhaps their legal team are dealing with the problem?

That's exactly what's taking so long. We paid the deposit in January, been sale agreed since then and only yesterday they told us about the boundary issue.

Just getting fed up now! Thanks for your reply, the PRAI are so helpful. That's who I got all the info off, the estate agent and solicitors just said 'a boundary issue' and left it at that.

Kelly06

Has anything been lodged in the land registry against that folio. You can check for free on the land reg website under pending applications and search by the folio number. If nothing is pending then try to find out who is acting for the bank in the sale maybe you could find out what the hold up is.

Ihatecuddles

Kelly06 wrote: »

Has anything been lodged in the land registry against that folio. You can check for free on the land reg website under pending applications and search by the folio number. If nothing is pending then try to find out who is acting for the bank in the sale maybe you could find out what the hold up is.

Nothing has been lodged at all. Ill tell my solicitor to contact the banks and see if they can tell us what the hold up is!

Thanks again

Valentine1

mauzo! wrote: »

We're in the process of buying a house. The one we want and the one next door are both now owned by the bank.

The house next door was built about 10 years ago, our one about 20.

The problem is, they are both under the same folio number, and can't be sold until its fixed.

Does anyone know how long this wil take? The guy I rang in the PRAI said they'll have to get mappers out and subdivide the land or 'carve a piece out' for the new property to have its own folio number.

Both properties are sale agreed, and neither can further until its sorted.

Any help is appreciated! Thanks.

Technically this is a boundary issue rather than a Land Reg issue. I suspect that the real cause of the delay is the Bank being slow to deal with matters rather than the Land Reg as it is possible to sell a property that is subject to a dealing in the Land Reg without having to wait for that dealing to be completed.

Ihatecuddles

Valentine1 wrote: »

Technically this is a boundary issue rather than a Land Reg issue. I suspect that the real cause of the delay is the Bank being slow to deal with matters rather than the Land Reg as it is possible to sell a property that is subject to a dealing in the Land Reg without having to wait for that dealing to be completed.

Thanks, I'm not sure why they are so slow to act on it. Hopefully the solicitor will get answers today.

Valentine1

mauzo! wrote: »

Thanks, I'm not sure why they are so slow to act on it. Hopefully the solicitor will get answers today.

If its a bank sale it is not going to proceed at normal pace.

Ihatecuddles

Valentine1 wrote: »

If its a bank sale it is not going to proceed at normal pace.

Do you know how much longer it will take? And why it will take longer?

MouseTail

How long is a piece of string? Judging from posts on here and my own experience it could take 6 months. Banks are just slow, they simply don't have the motivation a private seller has to close the deal.

Ihatecuddles

Yeah looking at some of the posts here I should almost forget about it for a few months. Sale agreed 3 months, told we'll get the contracts signed next week, then its a waiting game