• Possessory Title

    By Guest on 10th Jul 2019

    I have Possessory Title on my property. Land registry have confirmed the registration was in 2003 and I have been the registered proprietor since 2008. I have managed to find the statutory declaration from the seller in 2008 (it was probate, so this was from the allotted representative), I also have Indemnity from 2008 when I bought the property. I have since been told by my exceptionally unhelpful firm of solicitors after many phone calls that this may take up to 3 months for an application to go through and even then it is not certain I will get Absolute. Leaves me in limbo as whether the best option is to sell with the Possessory Title (my house is on the market and already had one buyer drop out due to the Title and lost a substantial amount of money on my purchase reservation fee and searches) or to try to obtain Absolute and put the sale on hold. Nobody at their firm seems to know the best answer!

  • 1 Answers

    By Guest on 11/07/2019

    It's up to you - we would charge about £800+VAT for an application for an upgrade to title. You are likely to end up with Good rather than Absolute title, but Good title coupled with an indemnity policy should be absolutely fine for most buyers. A buyer may also ask for a statutory declaration and ask why the title is only Good not Absolute, but it's much less off-putting than Possessory. Briefly and in a very basic summary:

    Possessory - you are registered as the owner because you possess the land; unless someone with better evidence comes along
    Good - you are evidenced to be the owner; unless someone comes along with actual deeds proving they really own it (extremely unlikely)
    Absolute - you are essentially the absolute owner

    Call Notary Express on 03333 122 221 if you decide to apply for an upgrade to title.

    www.notaryexpress.co.uk

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