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ROT: Forfeiture of Superior Lease - Lender Requires Insurance

Change date
17/06/2019
Word count
129
Deployment measure
9/10
Rationale

Identification of defective lease due to potential for forfeiture of a superior lease which results in determination of the leasehold chain of title.

The lease is defective in that in that there is potential for forfeiture of a superior lease which results in determination of the leasehold chain of title. This exposure is low. That being said this existing defect may affect mortgageability and therefore marketability in the future. Our attempts to convince the seller’s lawyers to remedy …

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Did a property problem come to light after you bought?

WhenIBought is a Lexsure service for homeowners who discover an issue when selling or remortgaging and wonder what was known, investigated or explained at the time of purchase. It offers a conversation about what happened and, where the records allow, what lenders required at the time. It does not determine whether anyone was at fault.

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