Hi
I am in the process of buying a house that is owned by a receiver on behalf of a bank (AIB). I got a copy of the Folio, however it states on Part 2 that the property is still owned by original owner (developer that went bankrupt) and not the receiver? So does mean that all contracts etc still need to go through the original owner? Furthermore in Part 1(A) there are numerous plans outlined in the folio that have not been transferred, the property I am buying is outlined in Part 1(A). The fact that other plans are detailed in Part1(A) will this go against me getting the property?
Furthermore the plan of the house I wish to buy it states this in Part 1(A) "Plan X added to folio to facilitate charge under D2010XXXX" Under Part 3 section it states this for the plan of house I want to buy "Charge for present and future advances repayable with interest. AIB is owner of this charge Note: this charge affects Plan X only" What does this mean? It does not state who is in charge of the other plans on the folio..
I am not looking for any legal advice but just wondering what this means...
I am in the process of buying a house that is owned by a receiver on behalf of a bank (AIB). I got a copy of the Folio, however it states on Part 2 that the property is still owned by original owner (developer that went bankrupt) and not the receiver? So does mean that all contracts etc still need to go through the original owner? Furthermore in Part 1(A) there are numerous plans outlined in the folio that have not been transferred, the property I am buying is outlined in Part 1(A). The fact that other plans are detailed in Part1(A) will this go against me getting the property?
Furthermore the plan of the house I wish to buy it states this in Part 1(A) "Plan X added to folio to facilitate charge under D2010XXXX" Under Part 3 section it states this for the plan of house I want to buy "Charge for present and future advances repayable with interest. AIB is owner of this charge Note: this charge affects Plan X only" What does this mean? It does not state who is in charge of the other plans on the folio..
I am not looking for any legal advice but just wondering what this means...