Form ii Restriction Removal

I have received a reply today, but I'm very confused.<br> <br> Please note that the restriction correctly remained on the register&#160;following completion of the registration of the Transfer dated 14&#160;July 2017 as insufficient evidence was provided to cancel it at&#160;that time. As the restriction relates to an interest under a trust of&#160;land in favour of ************ this could not be cancelled&#160;automatically, as the purchase money was paid only to ************&#160;and not to at least two trustees of land.&#160;Where purchasers pay the purchase price to at least two<br> trustees of land, the beneficial interests are overreached, and the&#160;trust attaches to the proceeds of sale, freeing the purchasers’&#160;estate from it (sections 2 and 27 of the Law of Property Act&#160;1925).&#160;In which case we would require evidence that *************&#160;no longer has a beneficial interest under the trust before&#160;we could be satisfied enough to remove the restriction without&#160;the consent of *************.<br> <br> We've never been made aware of any &quot;trust of land&quot; relating to the property and there is no mention of it in the Title Deed.&#160; How do I provide evidence that the person in question no longer has a beneficial interest under the trust?&#160; Does this mean that we paid the full purchase price and yet can still be held liable to pay more money?

Abigail - the 'trust' being referred to was the one created when the restriction was added to the register. The restriction effectively protected C J Drewett's beneficial interest and as your purchase transfer was from just Mr Harris we can't just assume that the trust/her beneficial interest is no more.<br> I suspect you won't know what happened next re the purchase monies you paid and can't satisfy the first option. As such the way forward is to contact her and ask her to provide a completed RX4 to withdraw the restriction as appropriate&#160;<br> Whether you are under any liability to pay more in some way would be something to discuss with your legal rep and that may all depend on how she responds.&#160;<br> As far as proceeding with the transfer of equity is concerned, having complied with the restriction, I suspect that the conveyancer won't proceed due to the requirements of the lender but only something they can answer.<br> U696CVT&#160;

Hi<br> <br> My solicitor has now received confirmation from yourselves that there was insufficient evidence to place the restriction on the register in the first place so she is filing an application to have it removed.&#160; Can you please confirm what the timescale is in order to do this?&#160; My mortgage offer is rapidly running out.<br> <br> Thanks

Hi Abigail - we contacted the conveyancer on the 27th May to explain the position and explain what options are available to them. They need to read and respond to the contact as appropriate, presumably by selecting one of the options or a 'new' one as appropriate<br> If they are filing an application, and it is in order, then it can be processed quickly but as the letter explains we would have to complete wider checks which could last approx 3 weeks<br> Do speak to your conveyancer for clarity re what they are filing and what happens next<br> U696CVT

My solicitor lodged the application on 29 May, reference&#160;R359VWT.&#160; Can you please confirm that it is being expedited as she was promised and give an update on the timescale.<br> <br> Thanks

Abigail - the second application was also expedited and partially processed on the 29th May. Wider checks are now being completed by contacting the restrictioner. They are given until the 23rd June to consent/object as appropriate. If they don't reply then time runs out and the application is generally completed within 2/3 days after that date&#160;<br> R359VWT

Can you confirm if there has been any reply from the restrictioner as they had until today to respond?<br> <br> Thanks

Abigail - nothing showing as yet. The case will be referred back to the casework team tomorrow and they will then have to check all contact channels for a response. A final decision will then be made re completion of the application as appropriate. It's a manual process and not an automatic one and these subsequent checks must also be made&#160;<br> R359VWT

Thanks. According to the letter the restriction should be able to be removed after 12pm today, can you please give me an update?

Abigail - the letter gives X amount of time to respond. Once the time has elapsed it's a manual process and the casework team have to check contact channels to be certain no responses received.<br> I'll check with the team for an update and will post again when I have something to share<br> HP202637

Abigail - the application has been completed and the updated register is available online<br> HP202637