House Contracts

[schueymcfee]

Could somebody please clear this sentence up and turn into English for me?

I've just received my contracts to sign on a house and part of the introductory letter states:

"I draw your attention that you are purchasing both the Freehold and the Leasehold titles to the property. However, the leasehold title is only registered with the Title Possesory, but the seller's solicitors are provising Indemnity Insurance to cover this situation."

:confused:

[fido]

i'm having problems filling in the Stamp Duty form this time round, let alone the rest of the house-buying malarky...

why do i get the feeling, Gordon Brown and my solicitors are having a bit of a larf at my expense...

[Zod]

schueymcfee said:

Could somebody please clear this sentence up and turn into English for me? I've just received my contracts to sign on a house and part of the introductory letter states: "I draw your attention that you are purchasing both the Freehold and the Leasehold titles to the property. However, the leasehold title is only registered with the Title Possesory, but the seller's solicitors are provising Indemnity Insurance to cover this situation."

I'm no conveyancing solicitor (thankfully), but I think it means that there is no eveidence of the leasehold title.Given that you are getting the freehold and will therefore be the lessor, that is not so bad. If the vendor has been living there, you can be reasonably sure that there is not some unknown lessee. In any case, you will have the indemnity insurance to cover you, but get your solicitor to check the terms of the indemnity insurance carefully.