House buying advice/issue.....Need some Help!

[AledJ]

I'm hoping that someone on here has greater legal knowledge than me....


In the process of buying a house and the solicitors have sent me some more paper work, and one document had details of the title and any covenants attached to the property. They mentioned in a letter that there is a restriction on the property, which they refer to as a trust deed.

Here is what the section says in full:

Restriction: No disposition by the proprietors of the registered estate is to be registered unless they make a statutory declaration, or their conveyancer gives a certificate, that the disposition is in accordance with a Trust Deed dated 29 February 2008 made between Person A (i have removed actual names) and Person B or some variation therof referred to in the declaration or certificate.

In the letter they also sent me they state to sort this restriction out it will cost an extra £100. Now I have tried to google this but cant get a clear understanding of its meaning, does it mean a bank has an interest in the property or is that they have a trust deed in case they split and are not married?

Can anyone help me out? I understand that any of the advice here is not 100% solicitor advice, but just want to understand it! And as its the weekend i cant call my solicitor

[peterb]

You need to know what the trust deed says.

This is definitely a job for you solicitor. No ifs, no buts. These things can come back and bite you much later down the line.

Call your legal beagle first thing Monday morning, and if it costs a hundred quid to sort out, so be it. It's probably a small price to pay, and if they mess up, you have some recourse.

For clarity, I am not a lawyer nor offering any legal advice in any form.

[stevie lee]

this http://www.kpmg.com/uk/en/services/a...rust-deed.aspx might help

basically (from reading that link, im not a lawyer) current owners owe money to people, they used the house as the security for the debt

lawyer 'sort it out' bit is probably to make sure the debt doesn't get given to you as it on the house and not the person.

but CHECK WITH LAWYER ON MONDAY im just guessing here.

[AledJ]

You need to know what the trust deed says.

This is definitely a job for you solicitor. No ifs, no buts. These things can come back and bite you much later down the line.

Call your legal beagle first thing Monday morning, and if it costs a hundred quid to sort out, so be it. It's probably a small price to pay, and if they mess up, you have some recourse.

For clarity, I am not a lawyer nor offering any legal advice in any form.

I would have though the solicitor would have mentioned the contents of the trust deed, but there was no mention just the mention about the extra cost. The extra cost is not an issue as its somthing I have budgeted for, just in case something like this did arise.

this http://www.kpmg.com/uk/en/services/a...rust-deed.aspx might help

basically (from reading that link, im not a lawyer) current owners owe money to people, they used the house as the security for the debt

lawyer 'sort it out' bit is probably to make sure the debt doesn't get given to you as it on the house and not the person.

but CHECK WITH LAWYER ON MONDAY im just guessing here.

I have come to the same conclusion that the sellers have used the house to secure a loan, but due to the lack of info from the solicitor in the letter I wanted to makes sure. I will definitely be calling them first thing on Monday, not pleased of how they have handled this so far would have been nice for a little more explanation. They also forgot to include the TR1 form (transfer of registered property form), which i will also be having a word with them about. From searching a little more it seems the extra fee is so the solicitors makes sure the debt has been paid, or is transferred with the seller to their new property.