Hi everyone - this is a messy one , I'd like some advice please on how to progress
Bear with me on this it's messy as the title states !
So bought house mid 2000s , from a couple , who bought house from the original owners - they were council rent tenants (99 year leasehold , but I didn't know that at the time) so we went ahead all ok no issues until I recently did a land registry search and found the folio as part of a master folio - no sign of us , the ppl we bought from or any burden of mortgage on the title . I contacted the council who've agreed to sell me the title for a nominal fee , as a freehold title .
Now , here's where it gets sticky , the original owners died and their kids sold the house to the ppl we bought from , the two solicitors involved created a memorandum of deeds and used this to sell the property, twice . I have the banks original docs and the land reg search is blank . The solicitor we dealt with on our side is disbarred for an unrelated issue and their solicitor is nearly retired. The council were very surprised the house had been sold twice when it was not the people's property to sell technically - seeing as we have adverse possession rights they are selling me the title as a freehold. No burden of mortgage. I am 17 yes in never missed a payment, and I'm wondering how could the bank sell a house they didn't own or have right to sell? We didn't know it was a leasehold we were buying , but obviously it wasn't made clear to us , now I own full title without any burden of mortgage, what is my position with the bank? Yes we agreed to get the loan from them , but how can they sell a house the people "selling" didnt own? I don't know how to approach this correctly with the bank any insight or advice would be great or maybe someone has come across something similar? Cheers
Bear with me on this it's messy as the title states !
So bought house mid 2000s , from a couple , who bought house from the original owners - they were council rent tenants (99 year leasehold , but I didn't know that at the time) so we went ahead all ok no issues until I recently did a land registry search and found the folio as part of a master folio - no sign of us , the ppl we bought from or any burden of mortgage on the title . I contacted the council who've agreed to sell me the title for a nominal fee , as a freehold title .
Now , here's where it gets sticky , the original owners died and their kids sold the house to the ppl we bought from , the two solicitors involved created a memorandum of deeds and used this to sell the property, twice . I have the banks original docs and the land reg search is blank . The solicitor we dealt with on our side is disbarred for an unrelated issue and their solicitor is nearly retired. The council were very surprised the house had been sold twice when it was not the people's property to sell technically - seeing as we have adverse possession rights they are selling me the title as a freehold. No burden of mortgage. I am 17 yes in never missed a payment, and I'm wondering how could the bank sell a house they didn't own or have right to sell? We didn't know it was a leasehold we were buying , but obviously it wasn't made clear to us , now I own full title without any burden of mortgage, what is my position with the bank? Yes we agreed to get the loan from them , but how can they sell a house the people "selling" didnt own? I don't know how to approach this correctly with the bank any insight or advice would be great or maybe someone has come across something similar? Cheers