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Title of house sale

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  • 24-03-2017 3:00pm
    #1
    Bella86
    Registered Users Posts: 42 ✭


    Hi

    I recently went sale agreed on the house but I bought the title on the land registry to have a look.. The house is a receivership sale.. I got a letter from the EA saying that the vendor is Grant Thornton (Receivers) acting through AIB UK... However when I had a look at the title it says that the ownership is someone else (the original owner/developer that went bust)..
    Will this be an issue from anyones experience not looking for any legal advice... I don't want to be annoying my solicitor over this as he said he cant say anything until contracts arrive but I am a bit worried that his may cause big issues..


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    #2
    busylady
    Registered Users Posts: 82 ✭✭busylady


    Yes the title would usually still be in the name of the original owner. The Receiver obtains the power of sale from the mortgage. There should be a Deed of Appointment of the Receiver pursuant to the terms of the mortgage. Your solicitor will be able to explain all this when the contracts arrive and will ensure that the Receiver has the power of sale before you sign the contracts.


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    #3
    Bella86
    Registered Users Posts: 42 ✭Bella86


    Thank you for getting back to me.. I was also wondering if you would know off hand.. How would you know if there was judgements against the mortgage?  would that be detailed in the burden section?  The only thing I see in the burden is "the charge for future advances repayable with interest. AIB Group(UK) PLC is owner of this charge"


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    #4
    WonderWhy
    Registered Users Posts: 2 ✭WonderWhy


    Hi Bella, How did it end up for you?


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