In the
event that for any reason there is a delay in delivering the Deed into the Land
Registrar, or in case that due to any defect the Deed is rejected by the Registrar
- and the defect is not corrected within the term of validity of the formal
presentation to the Registrar - then your rights are at risk.
One problem
you may suffer is the property being embargoed by creditors to your vendor.
The
embargos will be decreed normally by the Courts or the Local Councils. The Land
Registrar will be obliged to register those embargoes as burdens on your
property. When you eventually achieve the registration of your freehold, then
you will have to request the creditors to waive the embargoes, and you may even
have to take them to Court for this (an entry in this blog will comment this
shortly).
Other
problem that technically you may suffer is that your vendor sells the house
again.
Of course
this may be criminally prosecuted, though should the new purchaser be a
"good faith purchaser", and should he achieve the Registration prior
to you, then you may lose all your rights on the house, and just be left with the
right to be compensated.
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