I'm reaching out to the fantastic community here to sanity check the decision(s) re this purchase. Plus, I'm hoping this will stop me from getting caught out by unknown unknowns. And as one would expect, as FTBs we are emotionally invested in the property so need that detached pov.
- Legal and Financial risks;
- Options: Ask for reduction, further indemnity insurance, or execute the deal as is.
- 1930s End of Terrace;
- There is a strip of land next to the property that runs from the back to the main road to the front of the property. Title deed of the property doesn't mention RoW over this passageway;
- Three neighbouring properties have RoW over this passageway;
- Property benefits from a separate RoW using passageway to the rear of the property leading to a different road;
- Owner deceased - sale by the beneficiary. Not possible to get stat dec. Executor was unaware of this issue;
- Deceased owners have built a garage over part of this strip and taken over the rest e.g. installed gates, concrete slabs match work elsewhere on the property;
- Freehold owner of this strip was the developer in 1930s. Deceased and unlikely for his successors to have any interest in this matter. But this is an assumption.
- Exhibit A - Neighbours Title Plan
- Exhibit B1 - Candidate Property's Title Plan
- Exhibit B2 - Candidate Property as at Oct 2018
- Exhibit C - Strip Highlighted
- Exhibit D - Title Plan for the Strip
As I understand it, the primary risk stems from RoW holders demanding that the garage be altered in order to restore the passageway. Surveyor thinks that is a low probability event and thinks RoW was probably through the gardens. However, agrees that the worst-case scenario, while improbable, can include altering the garage.
The secondary risk stems from losing access to this passageway. Seller has offered to provide indemnity insurance to cover this risk.
Their neighbour's TitleThe land has the benefit of a right of way over the passage way leading
from the back and along the south-eastern side of the land into Main Road.
QuestionsThe land has the benefit of a right of way over the passage way leading
from the rear into Main Road between Neighbour's Property and Candidate Property.
- Should I be concerned that I may have to alter the garage at some stage? As I wish to use this for home office and survey has picked up asbestos in the roof, the combined works would be costly ie roof plus adjusting the boundary. Garage is roughly 5x5m. The strip is 0.8m wide and 5m in length where the garage overlaps on it;
- Given above, it is reasonable to ask for some deduction to cover the costs or some type of indemnity insurance product would suffice?
- Any other advice?