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'The price stated...' when one joint owner is bought out by another
'The price stated...' when one joint owner is bought out by another
Posted
Mon, 24 Mar 2025 15:09:06 GMT
by
Charles Williams
The property I live in was jointly owned by my brother (B) and I in equal shares for many years. We recently had the property valued at £430k and I bought his 50% share for £215k. The office copy of the register of title has just come through and has removed B as a proprietor and replaced the market value (£320k) when we purchased the property with a statement that:
(05.09.2024) The price stated to have been paid on 18 Aug 2024 was £215,000.
According to LR Practice Guide 7 §2 "The registrar will not enter a price paid if the registrar considers it misleading, such as when the value stated represents only a half share of the value of the property." so I was expecting the price stated to remain unchanged from the previous sale price, which was for the full property.
Am I correct to believe that this is probably error on the part of the registrar that needs to be corrected? If so how should I go about getting it changed?
Many thanks
CW
Posted
Mon, 24 Mar 2025 16:13:32 GMT
by
Adam Hookway
Charles - use our contact form to 'report an error' -
Public guidance: dealing with land and property - GOV.UK
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