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Stuart J
Stuart J, Solicitor
Category: UK Property Law
Satisfied Customers: 20673
Experience:  PGD Law. 20 years legal profession, 6 as partner in High Street practice
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Hi, I have a unilateral notice for a loan attached to property

Resolved Question:

Hi,
I have a unilateral notice for a loan attached to property which I do not recall signing?
the loan agreement states its secured on property intended as a deed
there is what seems to look like my signature but the witness signature space is blank/incomplete along with company signing space?

Q1) can a unilateral notice stop a sale?

Q2) Does a deed/loan agreement need to be signed by witness if doc has a space stating witness signature etc.?
Submitted: 1 year ago.
Category: UK Property Law
Expert:  Stuart J replied 1 year ago.
Can we have the full background please?
Is it on yr property?
Customer: replied 1 year ago.


yes its on my property,


I purchased 2005 from a company, who gave a gifted deposit but over valued property due to handed over condition!


 


later to find they've attached unilateral notice to property!


I haven't heard anything form the loan company before/in over 8yrs?


loan comp was dissolved and sold debt to another company who have presented copy of loan agreement as described


 


I have tried to remove via land registry and awaiting adjudicator decision?


 


 

Expert:  Stuart J replied 1 year ago.
It appears it wasn’t a gifted deposit but a loan then. Is that it?
Please confirm that you haven’t heard anything for 8 years.
When was the unilateral notice put on?
Customer: replied 1 year ago.

notice put on in 2006
I guess you could say it was a loan as they have provided
evidence?
I have not heard from them in over 7-8yrs heard from new company who say they bought debt, because I tried to remove notice and land reg contacted them
I am aware that debt over 6yrs can be statute barred, but deeds are different situation 12yrs.
Expert:  Stuart J replied 1 year ago.
Whilst having a unilateral notice on the property does not legally stop it being sold, no one will buy it while there is a notice on it. That answers the first question.
The second question has a little more complicated and answer.
There is a huge difference between a deed and a loan agreement. A loan agreement does not need to be witnessed. Indeed, the sale contract/agreement for the sale of a house does not need to be witnessed.
However the transfer deed which actually puts the contract into effect, does need to be witnessed.
There is a different limitation period on each deed and an agreement.
To be a deed, it must state it is a deed and it must be witnessed and delivered.
An agreement does not need to say it is an agreement but there must be on offer and an acceptance. Indeed, the agreement does not even need to be signed because it can be verbal.
This loan agreement or deed or whatever it is is not witnessed and therefore it cannot take effect as a deed. That is quite clear. It therefore takes force as a simple agreement.
This is where you are to the upper hand.
The limitation period during which a claimant must bring an action, is six years in respect of an agreement and 12 years in respect of a deed.
This document which purports to be a deed cannot be a deed because it is not witnessed and as I said earlier, it therefore takes force as an agreement. If it was witnessed and it was a deed, the claimant can pursue you for this money for 12 years.
However it is not witnessed and it cannot be a deed and therefore they can only pursue you for the money for six years from the date of the agreement. If they have not been in contact with you for eight years, they are out of time.
That alone should be sufficient to get the unilateral notice removed, and you should not have to repay anything.
Does that answer the question?
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Regards.
Stuart J, Solicitor
Category: UK Property Law
Satisfied Customers: 20673
Experience: PGD Law. 20 years legal profession, 6 as partner in High Street practice
Stuart J and 5 other UK Property Law Specialists are ready to help you
Customer: replied 1 year ago.


Thanks, XXXXX XXXXX like to know if you think a land registry/hm judicator or judge would have the same view, i.e is this commonly known in law etc?

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Stuart J
Stuart J
Solicitor
20673 Satisfied Customers
PGD Law. 20 years legal profession, 6 as partner in High Street practice