Help about to lose buyer!

silver star

Registered User
May 23, 2017
32
0
apologies in advance for the length of this thread.
MIL gifted her property to my husband 7.5 years ago. restriction placed on title deed that she can live there rent free until see dies. she had no signs of dementia when property which is left to him in her Will anyway, when she signed it over to him. She was diagnosed with Early Alzheimer's last March, went on holiday With a friend August had a massive fall, which sent her into "free fall", she had to move in with is in September. Husband put property on market in February, I thought as her Attorney if anything needed to be signed on her behalf I could do it. everyone knew from the beginning about the Restriction. It was not until late June after the property had been SSTC since March that I was informed I had to apply to COP to get the Restriction deleted. Yesterday phone call received from Estate Agent saying purchasers did not want to lose their buyers, and removals had been booked for 22nd! could they rent the property until restriction was lifted. Phone the Solicitors, conveyancing could not deal with this, they promised to speak to their Trust Dept, and Litigation Dept and would email me. does anyone know if we can issue an Assured Short term tenancy to the purchasers. I Phone COP to try and find out how long original application would take. as helpful as a chocolate teapot, then she said you probably need to apply to for another application to be able to issue the lease. My husband legally owns the Property, he is the one who is going to be clobbered for Capital Gains Tax, and the headache of being a landlord. me I just have to deal with all of the medical issues, care of MIL and my worsening health issues. so this is so long, but any advice would be gratefully received, before I finally lose the plot!
 

allchange

Registered User
Nov 29, 2015
83
0
Have you already exchanged? If not then don't without your solicitors advice. If you have already done so then again seek their advice. I believe that if exchange has already happened and the chain fails or is delayed as you cannot complete the sale then your husband could be liable for all costs incurred as a result all the way up to the top of the chain.

Maybe you could approach the COP again explaining the extreme urgency of the case.

Hope all works out well.

Ets I have no legal background
 

Bunpoots

Volunteer Host
Apr 1, 2016
7,356
0
Nottinghamshire
Just a thought. But I wonder if you could get around the letting restriction by letting out the house on a room by room basis and keeping a room "open" for your MIL. Not an ideal situation for either side I realise, but as it is intended to be only a stopgap maybe it would suffice?
 

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