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What to do when things are not on the title

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  • What to do when things are not on the title

    When things are not on the title of a property and you want to go ahead with it anyway.

    Is there anything i should be aware of?
    Is it just the normal process of buying the house and being aware its illegal and i should tell the insurance company to be covered?

    I have run past the house with my insurance broker (not saying anything about the extra works) and she said it all looks fine from her end.

    -----------------
    Interesting thing - Theres 2 decks
    - first deck is on title but isnt in the plan in the property file
    - second deck isnt on title (and above 1.5M) but is in the property file and signed off by council

    Both decks look to have been there for a long time

    Another thing - There is a single garage which is under the house, this is not on the title or in property file. should it be?
    Last edited by investorak; 20-10-2016, 07:48 PM.

  • #2
    Just checking this isn't in Howick? Sounds like a property I sold recently.
    Anyway if it's mostly decks forget about it. Just buy it, if it's in Auckland.

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    • #3
      Originally posted by investorak View Post
      When things are not on the title of a property and you want to go ahead with it anyway.

      Is there anything i should be aware of?
      Is it just the normal process of buying the house and being aware its illegal and i should tell the insurance company to be covered?

      I have run past the house with my insurance broker (not saying anything about the extra works) and she said it all looks fine from her end.

      -----------------
      Interesting thing - Theres 2 decks
      - first deck is on title but isnt in the plan in the property file
      - second deck isnt on title (and above 1.5M) but is in the property file and signed off by council

      Both decks look to have been there for a long time

      Another thing - There is a single garage which is under the house, this is not on the title or in property file. should it be?
      Is this a cross lease property?
      Squadly dinky do!

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      • #4
        Originally posted by Bobsyouruncle View Post
        Just checking this isn't in Howick? Sounds like a property I sold recently.
        Anyway if it's mostly decks forget about it. Just buy it, if it's in Auckland.
        no not in Howick

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        • #5
          Originally posted by Davo36 View Post
          Is this a cross lease property?
          yes it is a crosslease

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          • #6
            As for the single garage under the house - I wonder what did you expect to see on a title in this case? It fits within footprint of the house, doesn't it?

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            • #7
              be careful with cross leases....heard many bad stories with issues wrt titles

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              • #8
                Bank has specifically asked if there is anything wrong with the title. This is effectively a defective title so the bank most likely wont lend?

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                • #9
                  Only your lawyer can answer that. Defective title is a US term not a New Zealand one. WE actually have no such thing. If the title is "defective" then ownership cannot transfer. So you just get your lawyer to confirm the title is fine.

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                  • #10
                    Originally posted by Bobsyouruncle View Post
                    Only your lawyer can answer that. Defective title is a US term not a New Zealand one. WE actually have no such thing. If the title is "defective" then ownership cannot transfer. So you just get your lawyer to confirm the title is fine.
                    Interesting - My lawyer was the one that said that because of the differences between the property and the title it is counted as defective title.

                    Anyway If i let the bank know they will most likely not give me finance unless i say its all fine?

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                    • #11
                      If you are new to the investing game, you should probably leave this one alone.

                      But if you are fairly experienced, have a bit of dosh behind you etc. then you may decide just to proceed.

                      Just remember you may face similar questions from buyers when you come to sell.

                      And updating the title once you own it may not be straightforward - the other(s) on the crosslease site need to agree.
                      Squadly dinky do!

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                      • #12
                        It really depends on what is actually wrong. All I am saying is that the title is not defective. Often once you ask a question you create an unnecessary problem. Like you say to your lawyer the deck doesn't seem to be on this doc then the lawyer over reacts because he can be liable. If the only issue is consent on 2 decks and you say they are signed off in the file then there is nothing wrong. There may be some missing paperwork or just something not quite 100% when it was done years ago but it is nothing major by the sounds of it. Your lawyer is the one who should be advising you, but based on what you have said there is no reason to not buy it if you otherwise like the property and the deal.

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                        • #13
                          Hi I'm a bit confused - we are talking about Title, not LIM?

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                          • #14
                            Originally posted by jack2016 View Post
                            Hi I'm a bit confused - we are talking about Title, not LIM?
                            Not the lim. The Title

                            Comment


                            • #15
                              Thanks all. Have been honest with bank so will see how I get on with finance.

                              Might be an issue if I sell. Dont plan on doing that but circumstances do change

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