Unregistered Lease on Domestic Property

[MS1884]

We are in the process of purchasing a property and our conveyancer has identified an unregistered lease attached to the property. The seller holds the leasehold, which suggests it was passed onto them when the freehold was purchased historically. Unfortunately as there is no additional evidence held and Land Registry have rejected an application to remove the leasehold.

Our conveyancer has advised that we either buy an indemnity policy or pull out of the sale.

Interested to get the views of others on this, pros and cons of the indemnity insurance, and any risks we could walk into as we weigh-up our decision.

Thanks,

[atticus]

Take your solicitor's advice. He or she has studied the title documents. We have not seen them.