"Dirty Title Deeds "

[olly]

Our developer has stated that he now has Final Completion Certificate for our development of 4 houses but with endorsements, it states that a CYTA connection is not done and the pavement not done .He says that the Land Registry will now issue separate deeds in 2 months with these endorsements .
He does not have the money to do the work and I would be happy to have deeds in my name, albeit with work outstanding which I could do at a later date .
Is he telling the truth ? will LR issue separate deeds on this basis ?
I would like to hear your comments Nigel , I have a copy of the certificate if you wish to see it.
Olly

[Nigel-Howarth]

Hi olly

Yes, the Land Registry will issue deeds but with 'endorsements'. However, if your developer is either unwilling or unable to pay for the work necessary to have these 'endorsements' removed then you will have to pay for the work necessary to get a 'clean' Title Deed as the 'endorsements' will prevent you from selling/mortgaging the property.

You may then sue your developer to recover your costs.

So think carefully about how you proceed.

Regards,

[olly]

Thanks for your quick response Nigel ,I wanted to get the deeds in my name as presumably they are then out of the developers hands and not subject to his memos etc.
If the work is still outstanding does this make the sale impossible or just unlikely ?
I was thinking possibly a buyer may accept them with a price reduction to compensate for the work ,which is minor .
Olly

[Nigel-Howarth]

Hi Olly

Once the deeds are in your name they are out of the developer's hands and are unaffected by his debts.

If the deeds have 'endorsements' you are banned from selling the property until those 'endorsements' have been rectified and the endorsements removed from the deed.

(I've been advising a Cypriot chap in Nicosia who applied for his deeds for over a year. He finally got them a few days ago. His deeds have 'endorsements' because the wall separating him from his neighbours' is too high. His developer is in liquidation and he plans to sort out the wall himself. Once he's done that the planning authority will inspect his property again and, assuming the walls are OK they will issue a note that he will take to the Land Registry to get the endorsements on his Title Deed removed. Once he's done that he will be free to sell the property.)

Regards,

[olly]

Thanks Nigel , situation now clear ,Regards , Olly