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Missing tittle to property being purchased

  • 30-08-2024 7:25pm
    #1
    Sq
    Registered Users, Registered Users 2 Posts: 3 ✭


    Looking for advice on what to do

    Me and my wife went sale agreed on a property west of the country, got a solicitor and we soon found out

    Owner did not have Title deed

    The property was unregistered (No folio number) --- so I am guessing compulsory first registration is required.

    The solicitor said we will need to get a “defective title policy/indemnity” .

    Searches were also carried out and the searches showed there was one deed from developer to seller and no other names turned up.

    Seller did not have a mortgage on it so no record of that. The seller was able to provide other documents like BER certs, tax documents etc. the seller’s solicitor also declined providing a declaration of identity for the boundaries of the property

    Our solicitor has been with the contracts for a few weeks and hasn’t spoken to us about signing which is a good thing, but also hasn’t said we should pull-out of the purchase

    also, our solicitor is saying they will need at least a memorial of deed from the seller. are we shooting ourselves in the foot proceeding with this property? do we pullout or keep looking?

    can the registration of the property be declined? is there something else we should be considering? its been 3 months since we went sale agreed on the property. Would this affect mortgage draw down or future selling? I am told if registered successfully then there should be no issues selling down the line.

    Tagged:


Comments

  • #2
    SupaCat95
    Registered Users, Registered Users 2 Posts: 753 ✭✭✭SupaCat95


    Christ on a bike my heart goes out to you. It always something to hold up a sale. No title/deed is no protection. You are taking all the risk. What does solicitor say? Its too big of a risk for €N00,000. How does someone sell it with no title/deed?

    IIf it was me I would walk away.

    How ever if you have balls of steel and can sit on the property solid for 12 years (10, then 2 there after to register adverse possession). You gotta sit on it and invest in the property and hope 2nd cousin Patrick fromBoston doesnt turn up from Boston looking for his share of the will from the 1950s.

    YYou have to ne buying this place at serious discount.

    MMy advice: As Podge said to Rodge, I wouldnt touch it with yours



  • #3
    C3PO
    Registered Users, Registered Users 2 Posts: 3,771 ✭✭✭C3PO


    Put simply, there is no way that you will draw down a mortgage until this is sorted! If it is sorted to the satisfaction of your mortgage provider, I’d be happy to proceed and if not, you won’t be proceeding anyway!



  • #4
    Sq
    Registered Users, Registered Users 2 Posts: 3 ✭Sq


    https://www.boards.ie/discussion/comment/122564826#Comment_122564826

    The seller said it was lost. we didn't know about it till 3 weeks from the sale agreed and the estate agent feigned ignorance that they had no knowledge about it aId i was told later that the seller's solicitor was looking to reconstitute it. it's a crazy situation to be in to be honest



  • #5
    Sq
    Registered Users, Registered Users 2 Posts: 3 ✭Sq


    https://www.boards.ie/discussion/comment/122566617#Comment_122566617

    thanks, it's just an extremely uncomfortable situation to be in. considering the housing market



  • #6
    C3PO
    Registered Users, Registered Users 2 Posts: 3,771 ✭✭✭C3PO


    https://www.boards.ie/discussion/comment/122566876#Comment_122566876

    I get that it’s really frustrating but it will have to be sorted whether for you or another buyer. It won’t be the first or last time that deeds go missing - it can be fixed.



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  • #7
    wildwillow
    Registered Users, Registered Users 2 Posts: 1,181 ✭✭✭wildwillow


    Surely it is up to the vendor to sort out all this. Estate agents should be mandated to require that all the paper work and Property charges are perfect before accepting a property for sale.



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