Unclear deeds how to proceed making will

[Guest]

I am on a mortgage to support my daughter though don't contribute financially at all to the payments it wa s a propety transfer of ownership we under stand .
I am wanting to make my will but have a confusion over wording on title absolute
RESTRICTION :No disposition by a sole proprietor of the registered estate(except a trust corperation)under which capital money arises is to be registerd unless autorised by an order of the court.
RESTRICTION :Except under an order of the registrar no disposition by the propietor of the land is to be registered without the consent of the proprietorof the charge dated 3rd august 2000 in favour of the egg bank refered to in the charge register.
I have asked the mortgage company but they say as the original lender has now gone (egg bank) they don't have original paperwork, so I was advised to contact the original solicitor.....that company has gone into liquidation!!!
All the lender has said as the division is unclear and not simple ...
I am anxious to get this sorted out for my daughter and my peace of mind please advise on what the statements mean and what can be done next . I am at a dead end .

[Amethyst]

First one is that you hold the property as tenants in common - which means you have distinct shares of the property each. Do you have a deed of trust between you at all ? Otherwise generally it is 50/50. You can leave your share of the property absolutely to your daughter ( you could also leave it to someone else but that'd be a bit mean lol)

Or as it is nearly 20 years later you could see if she can 'buy you out' and have a mortgage in just her own name and take full ownership. If you are getting on a bit then it might be wise for her to do that anyway save any issues should it come to care home fees etc.

The second one is the mortgage.


Better description of the restriction...

http://freeconveyancingadvice.co.uk/...tions-on-title Restriction on Dispositions by a Sole Proprietor (Form A)

"No disposition by a sole proprietor of the registered estate (except a trust corporation) under which capital money arises is to be registered unless authorised by an order of the court."

The above restriction appears when 2 or more people purchase a property and choose to hold it as Tenants in Common , rather than as Joint Tenants. It should also be registered (though the proprietors will need to apply to the Land Registry) if a Joint Tenancy is severed. Its purpose is to ensure that, on the death of one proprietor, the property cannot be sold by one survivor on his own. Instead, either the personal representatives of the deceased must join in the sale, or else the survivor must appoint a trustee. The appointment is usually made in the transfer deed with the following wording in box 12 "So that the Transferor can give a good receipt for the purchase price Jane Doe in exercise of her statutory powers appoints John Doe to be a trustee of the Property together with Jane Doe". The appointment of a trustee overreaches the other proprietor's interest in the legal title (he does not have to be deceased) however the trustee is then equally responsible with the seller for ensuring that the other proprietor (or his estate) receives whatever portion of the equity that is due to him".

The current mortgage company should still hold all the documentation from Egg and the conveyancers so a Subject Access Request might assist finding out exactly.

[Guest]

Thank you the lender made it sound very problematic that the restriction was not straight forward causing myself and daughter a lot of worry.How do I get them to pass on information to me as yesterday I was told by them they didn't have the Egg banking stuff and to contact land registry.

[Guest]

Thanks

[Amethyst]

Meh ! A SAR should obtain all the information they do have. Of course they should have the original Egg banking stuff on the mortgage. If you stopped paying, how would they take posession without any documents? grrrr ... They haven't even updated the charge on the land registry ( how long ago did they take over?) … so it sounds like they're not on top of things. Who actually has the mortgage now?

On your title what does it have under this bit - is it just the restrictions - should have your and your daughters details as well as the bank ? or at the top where it says 'Registered Owner' ?





Lots of people hold property as tenants in common, and lots of parents start off on the mortgage of their childrens properties to help them get a start... so it's not that unusual or complicated.

[Guest]

The mortgage now is with Yorkshire building society.
in B 1 is proprietor my daughters name and then my name and the property address.
B2 is the first restriction in my 1st post however I took over from her ex husband in 2004
B3 is the no disposition by sole proprietor
B4 the transfer to the proprietor contains a covenant to observe and perform any obligations affecting the property which will remain binding on the transfer after the date thereof and of indemnity in respect of there of.

[Amethyst]

That's fine then, you are down as proprietor as tenants in common with your daughter. The ex husband's name doesn't appear anywhere does it - they'd likely have been joint beneficial tenants if they bought the house together and had a joint mortgage, so B2 would have been put on when you took over from him. Presumably your daughter and her ex husbands original mortgage was taken out with Egg in 2000.

B1 is the owners
B2 says it's tenants in common not joint beneficial tenants ( ie you own 'shares' rather than the whole between you) When you took over you probably signed a document with the conveyance solicitors for the land registry how the ownership should be registered. ( Land Registry probably do have a copy of this so you could ask them for it )
B3 is the bank's charge on the property ( so it cant be sold without the mortgage being repaid )
B4 is covenants ( again land reg should have that )

Not sure if you have to apply for official copies on form OC2 and pay a fee, but may well be worth asking on their community board ( they're very helpful ) - you want the application related to the transfer from ex husbands name into your name and probably the restrictive covenant details.

for example

Andrew - we don't register the % shares held although sometimes the basic detail is included when the joint ownership is registered. If you want us to check to see if any %s were mentioned on application you can submit our

online contact form

with the specific details. We will then check what we have on record and advise you as to how to apply for copies as appropriate.

If we do not have such information but you want to know who acted for you on each application then make that clear as well as you can then apply for a copy of the application form used in each case and as appropriate

And the register is not definitive re such detail and the term 'tenants in common' is not referred to on the register for example. Joint owners may indicate that they wish to hold the property as tenants in common when they are registered or may decide to sever their joint tenancy at some stage.

When this happens, and where the land is registered, we can register a Form A restriction on the registered title, namely

'No disposition by a sole proprietor of the registered estate (except a trust corporation) under which capital money arises is to be registered unless authorised by an order of the court'

The Form A restriction does not itself change the ownership from beneficial joint tenancy to tenancy in common. The restriction only reflects the request or change made. For further information see Joint property ownership available on the

GOV.UK website

If you wish to check and confirm how each is registered then you can do that

online

for a small fee

Their community help website is

https://support.landregistry.gov.uk/landregistry/categories/landregistry_joint_ownership_questions

[Guest]

Thank you I have contacted them and filled in oc2 form hopefully this can help me make my will although now found our leaving her the property doesn't put in her sole name but understand it can be transfers after my death ?

[Guest]

Hi have received this from land registry


Further to your recent enquiry.

It appears that the Transfer dated the 04/01/2005 contained no information on how the property was held.

Due to the above we entered the form A restriction by default, a letter was sent to the lodging solicitor explaining this.

If you would like to apply for a copy of the letter to your solicitors dated 28/01/2005, and the transfer dated 04/01/2005 please complete the form OC2.
I am not sure where this leaves us at the moment I feel very angry about the mess we have been left in.
please can you help is it possible to set percentage of ownership or get the Restriction A lifted it all seems a big mess.

[Amethyst]

If no shares are specified and if there is no evidence to the contrary, it is assumed that the tenants in common hold in equal shares.

I'd get the OC2 in to see what your solicitors filed at the time.

You can also also check with the SRA what happened to the files of the solicitors used for the purchase and try obtain those.

What are your specific concerns regarding your will ?

[Guest]

Hi my concerns are that I can legally leave her my my share of the property ,I am happy that if this is possible with her owning the other other "half' then if I can do this she will once inherited it be able to put it in her sole name?