Indemnity policy for rear yard?

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    Indemnity policy for rear yard?


    #2
    1. Policy should protect each successive owner in turn, so you ought to be OK in paying price of house unreduced.
    2. Is yard still unregistered at HMLR?
    3. Make sure that your solicitor obtains a Statutory Declaration by your V.
    4. On completion, make sure that solicitor notifies indemnity insurer of your purchase and your accession to benefit of policy.
    5. In six years' time, assuming that you retain house, your own Declaration (+ V's) will show twelve years' adverse possession. This can then facilitate an application to register possessory title.
    JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
    1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
    2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
    3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
    4. *- Contact info: click on my name (blue-highlight link).

    Comment


      #3
      Hi Jeffery,

      Thank you as always for your advice. If I buy the property and rent it, would that affect the number of years acuminated to gain absolute possession of the rear yard The yard is still unregistered at HMLR.

      Comment


        #4
        Originally posted by FRESH View Post
        Hi Jeffery,

        Thank you as always for your advice. If I buy the property and rent it, would that affect the number of years acuminated to gain absolute possession of the rear yard The yard is still unregistered at HMLR.
        "Possession" means:
        a. actual and personal occupation; or
        b. receipt of rents and profit, as income from let property.

        So as L you would stil be in possession. Your period of ownership/possession can therefore be added to your predecessor's in achieving the twelve-year requirement.
        JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
        1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
        2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
        3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
        4. *- Contact info: click on my name (blue-highlight link).

        Comment

        Latest Activity

        Collapse

        Working...
        X