• Buying Property And Awaiting Lease Extension To Be Registered + Undertaking

    By Guest on 02nd Dec 2016

    I am buying a property. The lease has been extended but not registered with the Land Registry. The seller's solicitors have advised they can provide an undertaking to confirm they will complete that application with the Land Registry.

    Is it advised to exchange contracts and proceed to completion with the undertaking or is it advised to wait until the Land Registry has finalised this before I exchange contracts. I have been advised this could take 6 months still.

    Many thanks in advance,

  • 1 Answers

    By Guest on 08/12/2016

    It is fairly common to proceed on the basis of an undertaking in these circumstances. It is often a necessity as a seller will often be relying on the sale proceeds to pay the premiim for the extension. Your lawyer will make sure the right undertaking is in place to protect you

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