Caroline Noakes (MP) raised the question of tightening up on the process by which Land Registry can be held to account in the RARE but scary cases of a house being sold by someone who doesn't own it.
This topic was raised on You and Yours (Radio 4 today).
Biggest risks are (a) owning the property outright & (b) letting it out. Some low-lifers stole the identity of the real property owner and got it sold via a local solicitor at a lowish price while property was empty or let. Funds moved into low-lifers account and instantly used to buy gold.
New home owners have done nothing wrong; real owner will have to wait (and wait) to see if he can get his property back. If not will have to try for compensation.
The Land Registry will register your property onto an alert scheme. If anyone tries to sell, attach a charge to it or list a wayleaf etc you get a very rapid heads up.
It used to be free but there is now a small charge (I understand).
Twice a year you get an email telling you there have been no activities listed to your property so there is comfort BUT if you change email address and/or phone numbers you HAVE to let them know.
This crime is rare but among this age group (ahem) there are likely to be those of us who are mortgage free and there may be some who are or will be letting property out.
Alphabetical girls and boys names January 2024