MJ31
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Restriction K - selling house ***Resolved Exchange going ahead***
MJ31 replied to Madge67's topic in General Legal Issues
Hi Madge and others on this thread, This is hugely interesting to me as we are on the other side of this situation at the moment with the purchase of a property about to fall through because the solicitors cannot agree on how to move forward. The property we are attempting to purchase has 4 restrictions on it, we have been told by the sellers solicitor that the process you mentioned above in your post Madge is what they will be doing - serving notice to the creditors on completion. Our solicitor is saying this is too risky and we might end up not being able to take clear title as the creditors can submit an injunction, plus the debts become unsecured and we might have bailiffs visiting looking for the previous owner. So, they are refusing to exchange because of this issue, while the sellers solicitor is refusing to change their approach as I assume they do not want the restriction K's settled from the sale proceeds. I have asked my solicitor whether i can instruct them to go ahead anyway. They said no in a roundabout way. So, I am trying to find a solicitor who is willing to undertake this purchase based on those terms above. Can i ask who your solicitor was Madge? Many thanks
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