Selling rented house- problems re mge retention

[ultimatehandyman]

Hi,

I am currently selling a 4 bedroom semi detached house that I have been renting out. The price has been agreed and it is currently in the hands of the solicitors.

The buyer wanted to exchange contracts asap and this was agreeable with me as the property has been empty for some 12 months, the buyer has told me that my side is dragging it's feet and slowing things down. This is not the case but it is her side slowing things down, apparently her uncle is doing the conveyancing and has now found out that some 50 years ago, the property that I purchased 3 years ago, had a clause put in the leashold saying that before the property is sold permission must be granted by the leasholder, who is probably dead!

I did take out indemnity insurance but cannot remember what exactly it is for, is this some form of insurance incase the leasholder turns up and tries to gain back the land?
When I purchased the property the building society put a £2000 retention on the mortgage for work that needed doing, damp proof course etc.

I had all of the work done and sent the certificates to the building society and the retention money was released, these certificates have now been lost!

Where do I stand? should I consider suing the building society for loosing my certificates?

Thanks in Advance

chez

[P.Pilcher]

The purchaser's uncle (if he is a solicitor or conveyancer) should be able to purchase insurance against the leaseholder appearing from the woodwork and trying to claim possession. From what you say (or really don't say) I assume you are not paying ground rent and if same was payable, then I assume nobody is demanding it and you don't know where to send it. Otherwise you would have a contact to attempt to obtain the required permission.
With regard to the paperwork that the building society lost, you are O.K. provided the damp problem does not return. The purchasers surveyor will check for damp and if it is absent, there should be no problem. The only problem arises if damp is found which will mean the damp proofing job was faulty and you need the paperwork to know how and where to claim.

P.P.