Step Carefully Into A New Home
The English land law is a complicated subject so when considering moving in into a new home consider carefully every step you make because through time, this has always been a tricky matter and sometimes you might encounter difficulties that might completely ruin your enjoyment of your new home.
Equity, the system that governs and fills in the gaps that common law is unable to control, protects some certain rights of people that might have interests in your land (this is why approaches like the Asbestos Survey are applied by mortgagees). Suppose you buy a house from a person who claims to have diverceed his wife. And he might have. Then he claims she is no longer living on the premises you are about to buy and he is the only occupier of the land in question.
Then suppose the wife has actually contributed to the initial price of the house when she and her ex husband had bought it. She provided some 50% of the amount of money (percentage is not really important as consideration need not to be accurate when it comes to such deals operated within the english law) and this is what equity will protect. Her husban sells the land to you and you move in, but the wife has an overriding interest. In other words, she still has interest in the land, protected by equity, which interest gives her the right of occupation of the primises that yu just bought. Her equitable interest for contributing to the initial price is enough for her to move in and live with you, even to get you out of the house no matter how much you have paid - this is why it is called an overriding interest.
So before getting into a deal for the sale of the house of your dreams, consult agencies and step carefully towards finalising the deal - you never know who else might have that unregistered overriding interest in theland you are buying.
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