legal ownership

[breathe21]

I have just discovered the property I bought 2 yrs which was sold to me by somebody who had bought it 6 years previous is going to be in a legal tangle. Apparently he obtained his mortgage by deception by not declaring relevant information, if he had given this information he would no doubt of been able to obtain a mortgage. Where will this leave me, does this mean I am now not the legal owner? I would appreciate any help ...

[bednobs]

i cant see the problem if he would have been abl to get mortgage even if he declared whatver it was

[almcd007]

Where's the problem ?

The transaction was completed two years ago. You own the property. However he obtained it 6years previous is irrelevant - I think you're worrying too much about nothing.

[breathe21]

Aparently he never declared that he already was on a mortgage on a property in negative equity and arrears. Also his salary would not of covered the cost of 2 lots of mortgage payments.

[buildersmate]

Its doesn't change the price of fish. He sold it to you - you bought it - the land is registered now to you. If he left a load of debts behind him, its between him and his creditors.

[breathe21]

thanks all you have put my mind at rest ..

[loonytunes]

The mortgage effectively has not bearing on ownership. He bought it with money which he had conned out of a lender. When you bought, that mortgage was paid off so there is no detrimentto the lender. There will be no claim against you or your property, only the other individual and his current assets

[breathe21]

If it does come out in court about his mortgage fraud, what would happen to him?