Selling without Title Deeds

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Cathie
Posts: 5
Joined: 13 Jun 2013 15:02

Selling without Title Deeds

Post by Cathie » 15 Jun 2013 15:42

After a protracted nightmare, it appears that my Title Deeds are more or less ready-the stumbling block now being that the developer has not been paying the IPT since 2007, when I bought the house. The Sale Agreement (placed in the Land Registry upon my purchase) states that HE is responsible for paying this until transfer takes place- but it looks like I may have to pay this too, if I want the deeds.I have several questions, but do not want to be greedy re. your (kindly) free advice.

My main question is that, I have heard that the rules/law changed recently, and that I can sell without the Title Deeds, using the Sale Agreement, WITHOUT having to pay the developer some punitive fee to enable me to do so-is this true,please?

THANK YOU!!



Nigel Howarth
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Re: Selling without Title Deeds

Post by Nigel Howarth » 15 Jun 2013 17:13

Cathie wrote:I have heard that the rules/law changed recently, and that I can sell without the Title Deeds, using the Sale Agreement, WITHOUT having to pay the developer some punitive fee to enable me to do so-is this true, please?
Yes - this is correct. In 2011 the government introduced a replacement Specific Performance Law - you can read about it at An end to greedy developers extorting cancellation fees (You will note that the author of the article was the main architect of the new law).

It's what is knows as as assignment/vesting contract and enables you to sell a property that has yet to be issued with Title Deeds without the knowledge or consent of the developer.

You can find a reference to the new law on pages 53 & 54 of the Department of Lands and Surveys Citizen's Charter.

Regards,


Nigel Howarth
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